Equinox Bulker Newbuild Handed Over to Algoma
- Business & Finance
Canadian shipping company Algoma Central Corporation (Algoma) has taken delivery of the first of two new Equinox Class self-unloading lake bulk carriers from Yangzijiang Shipyard in China.
The newbuilding, named the Algoma Niagara, departed on September 12 on its two-month voyage to Canada via the Panama Canal. The 38,000 dwt Algoma Niagara is expected to arrive in Canada and enter service in early November, according to the company.
“We are looking forward to the arrival of the Algoma Niagara. The Algoma Niagara is the first of two new Equinox Class 740-foot self-unloaders being built at Yangzijiang Shipyard and it will be joined by the sister ship, the Algoma Sault, in the first half of 2018,” Ken Bloch Soerensen, Algoma President and CEO, commented.
With a gross tonnage of 24,400 tons, the Algoma Niagara currently has a market value of USD 17.8 million and flies the flag of Tuvalu, VesselsValue’s data shows.
The Algoma Niagara will be the fifth Equinox Class vessel to join the Algoma Great Lakes fleet. Four Equinox Class gearless bulkers are already in operation in the Algoma fleet.
In addition to the new 740-foot self-unloaders being built at Yangzijiang, the shipyard also completed the fit-out of the Algoma Strongfield after the ship was acquired from the bankrupt Nantong Mingde shipyard early in 2017.
Algoma and Yangzijiang recently acquired the partially completed self-unloader Algoma Conveyor from the same bankrupt shipyard. Yangzijiang is completing a refurbishment of the vessel for eventual delivery to Algoma, expected in early 2019.
The Equinox Class represents the next generation of Great Lakes – St. Lawrence Waterway bulk cargo vessels. The Equinox fleet is the first class of Great Lakes vessels to include a fully integrated IMO-approved exhaust gas scrubber that has been certified to remove 97% of all sulfur oxides from shipboard emissions, Algoma said.
Algoma operates a fleet of dry and liquid bulk carriers and also provides ship management services for other shipowners. Algoma has begun an expansion into international short-sea markets through it 50% interests in NovaAlgoma Cement Carriers and NovaAlgoma Short-Sea Carriers.