Algoma Central, Nova Marine JV acquires five vessels

NovaAlgoma, the short-sea shipping joint venture company formed by Canada-based Algoma Central Corporation and Switzerland-based Nova Marine, has completed the acquisition of five vessels from separate owners.

Joining the NovaAlgoma fleet are three cement carriers formerly operated by Norway’s KGJ Cement in Northern Europe and two handy-size bulk carriers from Swire Bulk Holdings of Singapore.

Nova Marine CEO Vincenzo Romeo said the three cement carriers will supply additional capacity for NovaAlgoma Cement Carriers (NACC).

The first of the three cement vessels, NACC Providence, previously named Glory Atlantic, was delivered in early February. The second vessel will follow in March and the third is scheduled to be delivered in late June.

All three cement carriers will join the NACC fleet serving a growing list of clients worldwide.

The two handy-size bulk carriers, to be named Sider Athena and Sider Bear, will join the NovaAlgoma Bulk Holdings fleet in late April and will be commercially managed by Nova Marine.