Algoma has welcomed the first of two new methanol-fuel-ready product tankers into Saint John Harbour on 28 April.
As informed, the vessels will service Canada’s largest refinery with deliveries to ports in Atlantic Canada and the U.S. East Coast. The vessels represent a total investment of $127 million by Algoma in partnership with Irving Oil. The Algoma East Coast and the Algoma Acadian – the latter of which will arrive later this spring – are 37,000 DWT ice class product tanker vessels ordered by Algoma and constructed at the Hyundai Mipo Shipyard in South Korea. Both vessels will be on long-term time charter to Irving Oil under Canadian flag.
These additions introduce a new asset class to the segment, enhancing our operational capabilities and expanding the markets we serve. This milestone in our newbuild journey has been incredible to witness, made possible through our collaboration with Irving and the dedication and expertise of our operations team.
These additions introduce a new asset class to the segment, enhancing our operational capabilities and expanding the markets we serve. This milestone in our newbuild journey has been incredible to witness, made possible through our collaboration with Irving and the dedication and expertise of our operations team.
… said Algoma’s President & CEO Gregg Ruhl.
Vessel highlights:
This investment underscores our company’s commitment to providing energy security in the regions where we operate. We remain focused on providing a safe and secure supply of energy products to our customers, both today and tomorrow
This investment underscores our company’s commitment to providing energy security in the regions where we operate. We remain focused on providing a safe and secure supply of energy products to our customers, both today and tomorrow
… commentedIrving Oil President & CEO Jeff Matthews. “
