Algoma Central Corporation (“Algoma”), today announced it has placed an order with Hyundai Mipo Shipyard in South Korea to build two 37,000 DWT ice class product tanker vessels for a total investment of $127 million CAD. These new ships will be entered on long-term time charters to Irving Oil under Canadian flag, servicing the energy company’s refinery in Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the US East Coast.
Delivery of the new vessels is expected during the first quarter of 2025. Upon arrival in Canada, the vessels will be immediately deployed on the agreed time charter.
New vessel highlights:
Eco-friendly optimized ice class 1B design
Boston Beam width of 27.4 metres
Methanol ready as per ABS Notations - Methanol Fuel Ready Level 3(S), Methanol Fuel Ready Level 2D (TA, ME)
High voltage and shore power (cold-ironing) ready - ABS Notation HVSC-Ready
Enhanced ballasting capabilities to optimize operations in the Bay of Fundy
Algoma Central Corporation is a global provider of marine transportation that owns and operates dry and liquid bulk carriers, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Algoma is aiming to reach a carbon emissions reduction target of 40% by 2030 and net zero by 2050 across all business units with fuel efficient vessels, innovative technology, and alternate fuels. Algoma truly is Your Marine Carrier of Choice™.
Irving Oil is a family-owned and privately held international energy company. Specializing in the refining and marketing of finished energy products, the company operates Canada’s largest refinery in Saint John, New Brunswick, and Ireland’s only refinery located in the village of Whitegate.