Algoma Acquires Croatian-Built Vessel
Canadaian provider of marine transportation services Algoma Central Corporation has reached an agreement with 3Maj Brodogradiliste of Croatia under which Algoma will acquire a new Equinox Class 650’ self-unloading dry-bulk carrier upon completion of the vessel by the Shipyard.The vessel, the second of two such ships that were to be built by 3Maj for the Company, is partially built and moored at the 3Maj shipyard in Rijeka. Work on the vessel was halted in 2017 when the Shipyard entered an extended period of financial difficulties.Algoma took delivery of the Algoma Innovator…
Ruhl Named CEO of Algoma
Ken Bloch Sørensen has stepped down as president and CEO of Canadian shipowner Algoma Central Corporation after leading the company for four years. Gregg A. Ruhl, the current Chief Operating Officer, has been named President and Chief Executive Officer and will assume that role immediately.Soerensen is said to want to spend more time with his family in Europe. He joined Algoma in April 2015 and was charged with redefining the strategic focus of the Company to include growth markets beyond North America.
Self-Unloaders in CSL Pool Sold to Algoma
Oldendorff has sold the three remaining self-unloaders still operating in the CSL Pool: Sophie Oldendorff (70,037 tdw built 2000), Harmen Oldendorff (66,188 tdw built 2005) & Alice Oldendorff (50,259 tdw built 2000) for US$100.5 million to Algoma Central Corporation who is the third partner in the CSL Pool. The vessels are expected to deliver to Algoma around the middle of 2019. All three vessels have been trading in the CSL Pool on the East Coast of North and South America since…
Algoma Adds Algoma Innovator
Algoma Central Corporation, a leading provider of marine transportation services, today announced that it has taken ownership of the Algoma Innovator from the Uljanik d.d. shipyard in Croatia. The vessel is part of the Company’s Equinox 650’ class of self-unloading dry-bulk lake freighters and is the first new forward mounted boom ship to be built in 45 years. The vessel has been engineered to be a leader in the river class business; it’s forward mounted boom will permit cargo to be delivered into niche spaces allowing greater access and flexibility to customers.
St. Lawrence Seaway Cargo Up 10%
St. Lawrence Seaway cargo volumes are up 10 percent as the shipping season enters its busiest final months. According to The St. Lawrence Seaway Management Corporation, total cargo tonnage from March 20 to October 31 reached 28.7 million metric tons – 2.5 million metric tons more compared to the same period in 2016. “The star performers this year have been North American mined products such as iron ore and salt and high-value goods such as specialty steel imported from Europe,” said Terence Bowles, President and CEO of The St. Lawrence Seaway Management Corporation.
Algoma Niagara Arrives Sept Iles Port
Algoma Central Corporation, a leading provider of marine transportation services, announced that the first Equinox Class self-unloader, the seaway-max size Algoma Niagara, arrived at the Canadian port of Sept Iles, Quebec on November 1st. The Algoma Niagara is the fifth Equinox Class vessel in Canada and she joins her four gearless sister ships in the Algoma fleet. The vessel is currently undergoing inspections and re-flagging as a Canadian vessel before beginning commercial operations.
NovaAlgoma Short-Sea Carriers Launched
Algoma Central Corporation and Nova Marine Carriers SA today announced the creation of a new joint venture that will focus on short-sea dry-bulk shipping for global markets. This new joint venture, operating as NovaAlgoma Short-Sea Carriers, or NASC, is a 50/50 joint venture between Algoma Central Corporation (Algoma) and Nova Marine Holdings Limited (Nova), the parent company of Nova Marine Carriers. NASC was formed by Nova as an October 31, 2016 carve-out from the deep sea dry-bulk freight business operated by Nova Marine Carriers S.A.
Canadian Fleets, Seaway Invest $160 Mln for 2017 Season
Canadian ship owners and the St. Lawrence Seaway have spent an estimated $160 million on repair and infrastructure projects this winter, boosting the economic fortunes of communities throughout the Great Lakes, the St. Lawrence and east coast, according to the Chamber of Marine Commerce. Canadian ship owners have invested an estimated $70 million to maintain and upgrade their vessels during the winter months — an annual exercise that keeps their vessels in tip-top shape to safely and efficiently deliver goods for North American businesses. The St.
Algoma Signs JV with Nova Marine for Global Cement Carrier Fleet
Canada-based Algoma Central Corporation has signed a joint venture (JV) agreement with Nova Marine Holding of Luxembourg to establish a fleet of cement carriers to supply infrastructure projects across the globe. Algoma will own 50% of the joint venture, which is to be named NovaAlgoma Cement Carriers or NACC. "We are very excited about the opportunity this investment with Nova presents," said Ken Soerensen , President and CEO of Algoma. The demand for modern efficient cement carriers continues to increase globally.
Busy Season for Seaway
Grain shipments through the St. Lawrence Seaway are up 7 per cent this season, continuing the pace set last year when ships carried the largest volume of grain through the navigation system in 14 years. According to The St. Lawrence Seaway Management Corporation, grain shipments (including Canadian and U.S. grain) totaled 1.9 million metric tons from April 2 to May 31. The Port of Thunder Bay, the largest grain port on the Great Lakes, reported that its grain shipments were off to the strongest start this season since 1997, as the major handlers continue to export the harvest from 2014.
Dool to Serve as Chair of SLSMC Board
The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was appointed to the Board in November of 2012, and represents domestic carriers. As the former President and CEO of Algoma Central Corporation, he brings an extensive range of marine industry experience to the boardroom table. Dool succeeds Jonathan Bamberger, who has completed a two year term as Chair of the Board. Bamberger, President of Redpath Sugar, will continue to serve as a member of the Board.
Shipyard Arbitration Claim Favours Algoma Central
Algoma Central Corporation (Algoma) wins in its dispute with a Chinese shipyard at a London, UK, Arbitration Tribunal. The tribunal heard the shipbuilding contract dispute involving Algoma Tankers International Inc., a wholly owned subsidiary of Algoma Central Corporation, and found in its favour. In 2007 the Corporation, through its wholly owned subsidiary, entered into contracts to build three 16,500 - deadweight ton product tankers in China. Each contract contained provisions that permitted cancellation under certain conditions.
Rand Hires Robert Bezan, VP Planning and Analysis
Rand Logistics, Inc. announced the hiring of Robert (Bob) Bezan for the newly created position of Vice President of Planning and Analysis at its subsidiary, Lower Lakes Towing Ltd. In this role, Bob will be responsible for all operational planning and analysis activities for the Company. Bob has spent the last 14 years at Algoma Central Corporation and Seaway Marine Transport serving in similar capacities. This position was created in response to the company’s recent fleet expansions and to enable us to capitalize on future growth opportunities.
Algoma Selects Wärtsilä for Propulsion Installs
Algoma Central Corporation has chosen Wärtsilä to supply complete propulsion systems with integrated scrubbers for six Great Lakes vessels. The full propulsion system with integrated fresh water scrubber lowers operating costs while reducing the vessel's environmental footprint by allowing owners to use high sulphur fuels in Emission Control Area (ECA) Zones and meet sulphur emissions restrictions. This represents the first order for the new integrated Wärtsilä scrubber concept.
Algoma Bulker Renamed in Honor of Retired Director
Algoma Central Corporation's 'M/V Algobay' renamed 'Radcliffe R. Latimer' in a rededication ceremony in Port Colborne. The self-unloading bulk carrier, which transports commodities such as grain, coal, iron ore and gypsum to ports around the Great Lakes, St. Lawrence Seaway and Atlantic Canada will now be called the M/V Radcliffe R. Latimer. Mr. Latimer, who recently retired from the Algoma Central Corporation board of directors, has an association with the company spanning 46 years and acted as its chairman between 2003-2010. Mr.
ABS Adds to Membership
At the recent ABS Council meeting in N.Y., 40 prominent members of the shipping and offshore industries were elected as new members of the international classification society. The ABS Council also elected two new members to the society’s Technical Committee. “ABS governance is vested in a membership comprised of distinguished individuals drawn from the international shipping, shipbuilding and offshore industries, from academia, the insurance sector and other related disciplines,” said ABS Chairman and CEO Robert D. Somerville. Akimitsu Ashida, President, Mitsui O.S.K. Lines, Ltd. Noel L.
St. Lawrence Seaway Welcomes New Board Members
The St. Lawrence Seaway Management Corporation (SLSMC) is pleased to announce that Mr. Georges Robichon and Mr. Tim Dool have each been appointed to its Board for a three-year term. Mr. Robichon replaced Mr. Paul Gourdeau as the international carrier representative in August, while Mr. Dool becomes the domestic carrier representative when Mr. Ian MacGregor’s term is over at the end of November. In addition, Mr. Jonathan Bamberger was named Chair of the Board of Directors effective September 1st. He is President of Redpath Sugar Ltd. and has been a member of the SLSMC’s Board since August 2010.