Algoma hits ship delivery trifecta on fleet renewal quest

Canada’s shipping company Algoma Central Corporation has taken delivery of three new ships, including dual-fuel and methanol-ready product tankers, as part of its fleet modernization and diversification program.

For the first time in the company’s history, the newbuilds were constructed in three different countries and delivered to Algoma within one week.

On February 25, 2025, FureBear, Algoma’s joint venture with its Swedish counterpart Furetank, took delivery of the fifth new product tanker, Fure Vesborg, from China Merchants Jinling Shipyard in Yangzhou. Following the delivery, the 17,999 dwt climate-friendly dual-fuel tanker started operations, loading its first cargo in China. The vessel is expected to begin trading in Northern Europe in the second quarter of 2025.

The remaining five units in the FureBear newbuild order are scheduled for delivery throughout 2025 and early 2026.

The newbuilds are part of the Vinga series, the ice class 1A 17,999 dwt product tankers designed by Furetank together with FKAB Marine Design. They all have dual-fuel capability and can run on LNG/LBG or gasoil and are fully equipped for shore power.

They are designed with a battery hybrid solution and several features that reduce fuel and energy consumption.

On February 26, Algoma Endeavour, the final forward-mounted self-unloader in Algoma’s Equinox class series, was delivered at the 3 Maj Shipyard in Rijeka, Croatia. These vessels are optimized for the Great Lakes and St. Lawrence Seaway. Endeavour is also the third in Algoma’s domestic dry-bulk fleet with a forward-mounted boom, joining the Algoma Intrepid and Algoma Innovator.

On March 4, Algoma welcomed its first methanol-ready ice-class product tanker, Algoma East Coast, built by HD Hyundai Mipo shipyard in South Korea. The newbuild is the first of two 37,000 dwt product tankers intended to serve markets along the Canadian and U.S. east coasts.

Algoma East Coast’s sister ship, the Algoma Acadian, is scheduled for delivery in late‑March.

According to the shipowner, these vessels will feature an eco-friendly optimized ice class 1B design. Featuring a Boston beam width of 27.4 meters, the ships will be methanol ready as per ABS Notations. In addition, the new product tankers will be high voltage and shore power-ready and will boast enhanced ballasting capabilities to optimize operations in the Bay of Fundy.

Gregg Ruhl, President and CEO of Algoma Central Corporation, commented on the deliveries: “This milestone reflects Algoma’s commitment to making significant capital investments to meet our customers’ needs – in the U.S., Canada, and internationally – with the most efficient, reliable, and cost-effective fleet possible.

“This is a massive undertaking that clearly demonstrates our focus on customer service, fleet renewal, and strategic growth. Special thanks to our Bear Family and partners as these new vessels would not be possible without world-class collaboration and a world-class team.”