The Nasdaq-listed owner said the unnamed Danish-flagged vessel will start service in the second half of 2015.
It will service new long-term contracts under the Canadian flag.
The company said it is in the final stages of negotiating a shipyard contract to convert the vessel.
The bulker will have the largest carrying capacity of any existing Canadian river-class self-unloader.
Management was not immediately available for further comment on Friday morning.
Rand's
