The new joint venture, which is pending approval, would initially operate 70 bulkers worldwide.
Canadian shipping company Algoma Central Corporation and Nova Marine Carriers SA, a Lugano, Switzerland-based shipping company, have expanded their partnership to include a short-sea, dry bulk shipping venture, the companies said Thursday.
Dubbed the NovaAlgoma Short-Sea Carriers (NASC), the joint venture, which is pending approval, would initially operate 70 bulkers worldwide, with a maximum total capacity of 15,000 dwt.
The fleet will consist of owned and chartered vessels, and vessels under third-party management contracts.
In 2016, the two companies joined together to establish a cement shipping collaboration named NovaAlgoma Cement Carriers (NACC). Each company has a 50 percent stake in NACC, which deploys vessels in various regional markets in Asia and Europe.
Algoma Central, Nova Marine to form dry bulk partnership
