NovaAlgoma Short Sea Carriers and Peter Döhle Schiffahrts create combined vessel platforms
NovaAlgoma Short Sea Carriers NASC), a joint venture of Algoma Central Corporation and Nova Marine Holdings SA, and Peter Döhle Schiffahrts-KG (PDS), 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 company said in its press release.
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.
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).
About Peter Döhle Schiffahrts-KG
Peter Döhle 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 Döhle Group manages its fleet of vessels from Hamburg and has numerous offices, subsidiaries and partner companies located worldwide.
