NovaAlgoma Short Sea Carriers, a joint venture of Algoma Central Corporation and Nova Marine Holdings SA, and Peter Döhle Schiffahrts-KG have announced the creation of DNA Shipping, a commercial agreement to pursue consolidation and growth within the multipurpose project vessel and 13,500 to 15,000 mini-grabber dry bulk markets. The new entity will result in the creation of the largest mini-grabber pool in the world.
The multipurpose vessels will be managed by Peter Dohle’s existing commercial management office located in Hamburg while the bulkers will be managed from the NASC commercial office in Lugano.
The joint venture partners’ other offices in Rotterdam, Miami, Houston, and Dubai are also expected to produce cargoes for the pool.
The joint venture is expected to begin operations in October and will comprise 26 vessels, including 13 multipurpose vessels and 13 mini-bulkers. NASC will contribute 12 vessels to the pools and Peter Dohle will contribute 14.
“We believe the creation of this new agreement is an exciting first step in bringing consolidation to the fragmented MPP and mini-bulker markets” said Ken Bloch Soerensen, executive chairman of Nova Algoma Shortsea Carriers.