NovaAlgoma Short Sea Carriers And Peter Döhle Schiffahrts Create Combined Vessel Platforms
26 September 2018 - 11:43PM
Business Wire
NovaAlgoma Short Sea Carriers NASC), a joint venture of Algoma
Central Corporation (“Algoma” - TSX: ALC) and Nova Marine Holdings
SA, and Peter D�hle Schiffahrts-KG (PDS), today announced the
creation of DNA Shipping, a commercial agreement (the Agreement) to
pursue consolidation and growth within the multi-purpose project
vessel (MPP) and 13,500 to 15,000 mini-grabber dry-bulk
markets.
The MPP vessels will be managed by PDS’s existing commercial
management office located in Hamburg, Germany, while the bulkers
will be managed from the NASC commercial office in Lugano,
Switzerland. The joint venture partners’ other offices in
Rotterdam, Miami, Houston, and Dubai are also expected to produce
cargoes for the Pool.
While the business will be managed as two separate commercial
fleets, the partners expect to exploit cargo synergies that exist
across the MPP and bulker segments and to benefit from the shared
best practices of the two companies. The joint venture will also
reach out to owners of vessels in the MPP and mini-bulker markets
who are in need of commercial management with the objective of
expanding the fleet.
The joint venture is expected to begin operation in October and
will comprise 26 vessels, including 13 MPP vessels and 13
mini-bulkers. NASC will contribute 12 vessels to the pools and PDS
will contribute 14.
“We believe the creation of this new Agreement is an exciting
first step in bringing consolidation to the fragmented MPP and
mini-bulker markets” said Ken Bloch Soerensen, Executive Chairman
of NASC. “As our new name suggests, we feel we share DNA, values,
and an approach to the conduct of our business with PDS, which
leads to a strong foundation for growth”, Mr. Soerensen
continued.
Jochen D�hle, Chief Executive Officer of PDS elaborated, “We are
extremely pleased that PDS and NASC have been able to put this
joint venture together in such a short period of time. We share a
common vision of the future of this business and we bring combined
resources to bear that lead us to be optimistic about our chances
of success.”
The new entity will result in the creation of the largest
mini-grabber pool in the world.
About NovaAlgoma Short Sea Carriers Ltd.
Founded in 2016, NovaAlgoma is a joint venture between Nova
Marine Holdings SA (Nova) of Luxembourg and Algoma Central
Corporation (Algoma) of Canada. NovaAlgoma comprises two fleets:
NovaAlgoma Cement Carriers (NACC) and NovaAlgoma Short Sea Carriers
(NASC). For more information please visit www.novaalgoma.com
About Peter D�hle Schiffahrts-KG
Peter D�hle Schiffahrts - KG offers a wide range of services
within the global shipping industry including chartering, sale and
purchase as well as financial, commercial, technical support,
insurance, and crew management. The Peter D�hle Group manages its
fleet of vessels from Hamburg and has numerous offices,
subsidiaries and partner companies located worldwide. For more
information please visit www.doehle.de
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version on businesswire.com: https://www.businesswire.com/news/home/20180926005558/en/
NovaAlgoma Short-Sea Carriers Ltd.Ken Bloch SoerensenExecutive
Chairman+1 905-687-7885orPeter D�hle Schiffahrts-KGChristoph
D�hleManaging Partner+49-40-381080
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