Algoma and CSL Group order methanol-ready bulker quartet
Canadian company Algoma Central Corporation and UK-based CSL Group, which together form the CSL International Pool, have placed an order for the construction of four new methanol-ready Kamsarmax-based ocean belt self-unloading vessels.
As disclosed, the new ships, which will be built by Chinese shipbuilder Jiangsu Yangzi-Mitsui Shipbuilding, will replace the CSL International Pool’s oldest vessels and become the model for its next generation of ocean self-unloaders.
Specifically, Algoma and CSL have each ordered two of the 72,250 DWT vessels, and the commercial partners also have an option to build an additional two ships.
In line with Algoma’s decarbonisation efforts, the ships are expected to be 40% more efficient than the ships they will replace owing to a combination of fuel efficiency and optimized cargo lift. Furthermore, they will be methanol-ready.
“This joint order represents our long-term commitment to serving our customers safely and sustainably with our ocean-going Pool of ships,” said Louis Martel, President and CEO of CSL.
“Designed with efficiency and versatility in mind, these new vessels will have the advantage of being interchangeable and able to adapt to any trade and operating condition.”
The company expects that the bulkers will exceed the International Maritime Organisation’s (IMO) EEDI Level III requirements.
The new vessel order will replace the three oldest ships in the Pool and see its fleet size increase to 19. The first vessel delivery is scheduled for July 2025, beginning with an Algoma ship. The subsequent deliveries are expected every three months.
“The teams at Algoma and CSL combined their decades of experience in this space to design the optimum ship for the Pool trades, while simultaneously taking yet another leap forward in reducing our carbon footprint,” stated Gregg Ruhl, President and CEO of Algoma.
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Seaway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers.
The company also owns ocean self-unloading dry-bulk vessels operating in international markets. In November last year, Algoma, together with Furetank, announced that it is expanding the FureBear joint venture to include eight dual-fuel product tankers to trade in Northern Europe.