Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

5a48d5155682bc4fb2d6afbad66070ef_M

Algoma finalises CSL Pool deal with Oldendorff

Algoma Shipping, subsidiary of Algoma Central Corporation, sealed a deal to acquire the 40% interest held by Oldendorff Carriers in the CSL International Pool plus three Oldendorff-owned vessels operating in the pool.

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.

Read more: Oldendorff sells three CSL Pool self-unloaders to Algoma for $100.5m

“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.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
Maritime_Market_User_Promo_4
Looking For Suppliers?

Maritime Market is the online marketplace for the global maritime industry, making it easy to connect with suppliers 365 days a year. Powered by an extensive database of maritime professionals and businesses.

Maritime_Market_User_Promo_4