New methanol-ready product tanker joins Algoma

Canadian shipping company Algoma Central Corporation and compatriot refining company Irving Oil have welcomed their first new methanol-ready product tanker.

The 37,000 dwt Algoma East Coast arrived in Saint John Harbour on April 28, 2025. The newbuilding features a length of 184.08 meters and a width of 27.40 meters.

The Algoma East Coast and the Algoma Acadian – the latter of which will arrive later this spring – are ice class product tanker vessels ordered by Algoma in 2023 and constructed at the Hyundai Mipo Shipyard in South Korea.

Both vessels will be on long-term time charter to Irving Oil under the Canadian flag.

Being shore power-ready, the vessels will service Canada’s largest refinery with deliveries to ports in Atlantic Canada and the U.S. East Coast. The vessels represent a total investment of $127 million by Algoma in partnership with Irving Oil.

“Algoma is excited to welcome the Algoma East Coast, and soon, the Algoma Acadian, to our product tanker fleet,” Gregg Ruhl, Algoma’s President & CEO, commented.

“These additions introduce a new asset class to the segment, enhancing our operational capabilities and expanding the markets we serve. This milestone in our newbuild journey has been incredible to witness, made possible through our collaboration with Irving and the dedication and expertise of our operations team. Both vessels will be deployed immediately upon arrival in Saint John,” he added.

The vessels will support Irving Oil’s operational requirements and will support the distribution of energy products to its customers in Canada and the U.S.

“This investment underscores our company’s commitment to providing energy security in the regions where we operate,” Jeff Matthews, Irving Oil President & CEO, said.

In related news, the Canadian shipping company took delivery of three new eco-friendly ships in March 2025. Apart from Algoma East Coast, the company accepted delivery of the self-unloader Algoma Endeavour in Croatia and Fure Vesborg in China.

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