Canadian shipping company Algoma Central Corporation has taken delivery of the first vessel in a new series of two product tankers.
Algoma East Coast will service Canada’s largest refinery with deliveries to ports in Atlantic Canada and the US East Coast on behalf of Algoma and Irving Oil. Sister ship Algoma Acadian will meanwhile be delivered this spring.
The ice class product tanker was built by HD Hyundai Mipo in South Korea and will serve a long-term time charter to Irving Oil under the Canadian flag.
"These additions introduce a new asset class to the segment, enhancing our operational capabilities and expanding the markets we serve," said Algoma’s President and CEO Gregg Ruhl.
Algoma said the vessels will support Irving Oil’s unique operational requirements and will support the distribution of high-quality energy products to its customers in Canada and the United States.
Algoma East Coast can transport up to 265,000 barrels of petroleum products including petrol, diesel, and jet fuel. The ship is classed by ABS and is methanol-ready.