Algoma Central Corporation (Algoma) has ordered two, methanol-ready, 37,000-DWT, ice class product tanker vessels to be built to ABS Class. This CAN$127m investment followed an order for two, new, 72,250-DWT, methanol-ready, Kamsarmax-based ocean belt self-unloading vessels that will also be built to ABS Class from Algoma, according to ABS's release.
The new product tankers will be entered on long-term time charters under Canadian flag, trading primarily from Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the U.S. East Coast.
The methanol-ready Kamsarmax vessels will support Algoma’s decarbonization efforts with the new ships designed to exceed EEDI Level III requirements and to include Tier 3 engines. The vessels are expected to be 40 percent more efficient than the ships they will replace, owing to a combination of fuel efficiency and optimized cargo lift.