Algoma Central Corporation and Nova Marine Holdings have teamed up to form a new bulker joint venture.

Canada's Algoma said NovaAlgoma Bulk Holdings (NABH) was created in the third quarter.

It has interests in four deep-sea bulkers operating internationally and is managed out of Lugano, Switzerland, where Nova is based.

In September, another joint venture between the two companies, NovaAlgoma Short Sea Carriers (NASC), created DNA Shipping, a commercial agreement with Peter Dohle of Germany.