Algoma Central Corporation Acquires Two Product Tankers
Built in 2007, the sister ships were purchased to prepare for the coming replacement of two older vessels in the fleet. The Algotitan, previously named the Chantaco, will operate on the Great Lakes, St. Lawrence Seaway and will be a strong addition to the fleet when the vessel begins domestic operations, expected in early 2023. The Algoberta, previously named the Chiberta, will begin her career with Algoma operating in Northwestern Europe and commercially managed by Furetank AB of Sweden. The vessel will trade in Europe until Algoma is ready to bring her into Canadian trade, expected later in 2023. The Algoberta’s name is a nod to Algoma’s largest customer in the segment which calls Calgary, Alberta home.
In the third quarter of 2022, Algoma acquired a 2010 built Norwegian vessel named the Birgit Knutsen, which is a sister ship to the Algoterra. The vessel currently operates internationally under bareboat charter and has already proven to be a strong addition to the Product Tanker segment.
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