Algoma Central Corporation and Nova Marine Carriers have finalized a deal that will see the formation of a new joint venture with 72 ships.
The enlarged dry bulk player, to be called NovaAlgoma Short-Sea Carriers, is now ready to kick-off operations, marking another consolidation move in the sector.
Algoma has acquired a 50% interest into a newly formed entity in control of Nova Marine’s commercial contracts and stakes in 15 ships of less than 15,000-dwt.
