TMS Ship Finance & Trade Conference 2020Cleveland Cascades LtdPort of StocktonTMS Webinar Series COVID-19: A Leadership Perspective - ‘Scanning the Financial Horizons’ViganTBA Group
  • Telestack
  • TMS Ship Finance & Trade Conference 2020
  • Port of Stockton
  • TBA Group
  • Cimbria Bulk Equipment A/S
  • Sailors Society

Algoma’s new NACC investment

(Posted on 08/06/18)

Algoma Central Corporation, a leading provider of marine transportation services, has announced that NovaAlgoma Cement Carriers Limited (NACC), has acquired a 25% ownership interest in JT Cement (JT Cement), joining KGJ Cement Holdings AS (KGJ) and Erik Thun AB (Thun) of Sweden in the cement company which owns a fleet of seven smaller specialized pneumatic cement carriers.

The investment will expand NACC’s global footprint into the Northern European market where KGJ and Thun have a strong presence and will provide additional strength and flexibility to the fleet’s customers.  

“This investment will allow us to each apply our experience and knowledge in the pneumatic cement carrier market to create additional shipping solutions to meet the needs of customers,” said Ken Bloch Soerensen, President and CEO of Algoma Central Corporation. “We look forward to working with our new partners to create new opportunities for the JT Cement fleet.”

The daily operations of the JT Cement fleet will not change as a result of the NACC investment, with the vessels continuing to be commercially managed by KGJ’s office in Bergen, Norway. 

“The addition of NACC to the ownership group of JT Cement will strengthen our team and provide opportunities for further growth in the Northern European region,” said Petter Tronstad, Chief Executive Officer of KGJ Cement. “We welcome this opportunity to increase the flexibility available to our valued customers.”

In January, 2016, Nova Marine Carriers SA and Algoma Central Corporation created NovaAlgoma Cement Carriers. The fleet comprises pneumatic cement carriers that utilize a compressor and pump system to load and unload cement powder. This operation is very clean, with essentially no discharge to the atmosphere. Cement shipping is a regionalized market with generally smaller vessels servicing large global manufacturers that support infrastructure investment. 

 JT Cement, based in Bergen, Norway, operates a fleet of seven specialized cement carriers primarily servicing major cement providers in Northern Europe. 

Algoma Central Corporation is a publicly traded company which operates the largest fleet of dry and liquid bulk carriers on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets. Algoma has expanded into international short sea markets through it 50% interests in NovaAlgoma Cement Carriers and NovaAlgoma Short Sea Carriers. Algoma Central trades on the Toronto Stock Exchange under the symbol “ALC”. 

Latest News

ICS launches engine room safety guidance

(Posted on 06/07/20)

The design, complexity and arrangement of engine rooms across the global shipping fleet vary far more... Read more


North completes Sunderland Marine integration

(Posted on 06/07/20)

North P&I Club has completed integration of the Sunderland Marine Insurance Company Limited business... Read more


New NI President to focus on three challenges

(Posted on 06/07/20)

The newly elected President of The Nautical Institute, Jillian Carson-Jackson has vowed to help the... Read more


ClassNK amendments to class rules

(Posted on 06/07/20)

Leading Classification Society ClassNK has released amendments to its Rules and Guidance for the Survey... Read more


Hydrex repairs bulker scrubber overboard pipe

(Posted on 06/07/20)

Last month Hydrex diver/technicians carried out scrubber overboard pipe repairs in Belgium and the Netherlands... Read more


Four new ultramax bulkers for Norden

(Posted on 01/07/20)

Following the sale of 10 ships since 2018, Dampskibsselskabet Norden has entered into a newbuilding... Read more


Strategic maritime e-learning partnership formed

(Posted on 30/06/20)

V.GROUP, the leading global provider of ship management and marine support services, and Ocean Technologies... Read more


Report investigates role of tech in crew welfare

(Posted on 30/06/20)

Inmarsat, the world leader in global, mobile satellite communications, has published a new report focusing... Read more


Safety investment from MENAS

(Posted on 30/06/20)

The Middle East Navigation Aids Service (MENAS) has recently invested $20,000 in upgrading its Aids... Read more


Crews pushed to limits on Day of Seafarer

(Posted on 25/06/20)

Despite a universal campaign from all sectors of the shipping industry to classify seafarers as key... Read more


Bühler GmbHTelestackTMS Tanker Conference 2020Cimbria Bulk Equipment A/SPort of Vancouver USATOC Events
  • Bühler GmbH
  • Port of Vancouver USA
  • TMS Webinar Series COVID-19: A Leadership Perspective - ‘Scanning the Financial Horizons’
  • Cleveland Cascades Ltd

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping