Canada’s Algoma Shipping has added handysize Algoma Verity (formerly Alice Oldendorff) and panamaxes Algoma Valour and Algoma Victory (formerly Harmen Oldendorff and Sophie Oldendorff respectively) operating in the pool.
Algoma is paying $100.5m for the three ships.
“Deploying our capital to grow our position in the ocean self-unloader business is strategic and positions Algoma well for pool growth that we foresee in the years ahead,” said Peter Winkley, cfo of Algoma.
“We know this business and these ships well and with customer demand remaining strong, we believe this is a good time to increase our investment in a business that has generated strong returns for us in the past,” Winkley added.
The finalisation of the deal sees Algoma having eight self-unloaders operating in the CSL Pool and CSL having 10, with Oldendorff effectively exiting the pool.