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Algoma in for newbuilding

Algoma in for newbuilding
Canadian owner clinches deal for Eregli Shipyard tanker due next year.

Algoma orders tanker in Turkey

Canada's Algoma Central Corporation reports that its wholly-owned subsidiary Algoma Tankers Limited, has entered into an agreement with MedMarine Group for the purchase of a double-hulled petroleum product tanker under construction in the Eregli Shipyard, Turkey.

The vessel replaces the single-hulled Algonova which was sold in January 2007 and will operate in the Great Lakes-St. Lawrence Waterway and Atlantic Canada regions.

Delivery of the ship is scheduled for February 2008 and is expected to cost approximately $42 million.

Algoma Tankers Limited owns and manages four Canadian-flagged tanker vessels. The corporation also owns a foreign-flag tanker through a wholly owned foreign subsidiary.


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