Algoma Central announces $160M fleet renewal investment
Algoma has invested $560 million in domestic dry-bulk fleet renewal since 2009
ST. CATHARINES, Ont.—Bulk carrier operator Algoma Central Corp. has acquired a 2009-built self-unloading ocean class vessel, the Gypsum Integrity, from Gypsum Transportation Ltd.
The “handysize” vessel—which means a dry bulk or tanker with a deadweight between 35,000 and 50,000 tonnes—is being renamed the Algoma Integrity.
Algoma Central has also signed contracts with a subsidiary of Uljanik d.d. of Croatia for two new Equinox Class 650-foot self-unloading dry bulk lake freighters. These contracts are contingent on the delivery by the shipyard of acceptable security for construction installments required under the contracts.
Algoma has invested $560 million in domestic dry-bulk fleet renewal since 2009.
“We are looking forward to the arrival of the new Equinox 650 Class ships, the second phase of our domestic fleet renewal,” said Ken Bloch Soerensen, President and CEO of Algoma. “The specialized service needs of certain of our customers require the size and type of vessel that Algoma has consistently provided”, Mr. Soerensen added.
The two new Equinox Class ships will serve a range of customers with particular focus on salt and aggregates industry shippers. The first ship is expected to enter service early in 2017 with the second ship to follow later that year. The Equinox 650 Class has an overall length of 198.4 metres and is 23.8 metres wide. The ships are expected to carry in excess of 24,000 tonnes at maximum Seaway draft. These vessels will also feature a forward discharge boom and both a bow and stern thruster.
These new 650 foot vessels will include all of the advances inherent in the Company’s proprietary Equinox Class design. This includes the installation of exhaust gas scrubbers, certified for use on our Equinox Class ships to remove at least 97 per cent of all SOx emissions from the exhaust stream. The scrubbers, combined with other technologies and advancements on the ships, makes the Equinox Class the most environmentally advanced and efficient vessels operating on the Great Lakes and St. Lawrence Waterway.
Algoma Central Corporation operates the largest Canadian flag fleet of dry and liquid bulk carriers operating on the Great Lakes-St. Lawrence Waterway, including 17 self-unloading dry-bulk carriers, seven gearless dry bulk carriers and seven product tankers.