Algoma Central president and CEO Gregg Ruh says vessels have optionality for future methanol and shore energy capabilities.
Canada’s Algoma Central Corporation continues to maneuver in the direction of methanol. It has positioned a CAD 127 million (about USD 96 million) order with Hyundai Mipo Shipyard in South Korea to construct two 37,000 DWT methanol-ready product tankers. The ice class vessels will likely be entered on long-term time charters to Irving Oil underneath Canadian flag, servicing Irving’s refinery in Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the U.S. East Coast.
Like the 4 Kamsarmax-based self-unloading bulkers ordered earlier this yr by Algoma Central and CSL Group, they are going to be methanol-ready,
“Strategically unlocking diversified marine shipping opportunities and new partnerships form fundamental pillars that continue to drive our growth and success,” stated Algoma Central president and CEO Gregg Ruhl. “With this investment, we will augment our fleet with a new asset class, expand the markets served by our product tankers segment and add an important new Canadian customer to our business. These vessels have been designed to support Irving Oil’s unique operational requirements and with a view towards optimizing the carbon requirements in these trades, now and into the future, possessing optionality for future methanol and shore power capabilities.”
“We remain committed to providing a safe and secure supply of energy products to our customers,” stated Ian Whitcomb, resident of Irving Oil. “This investment highlights our company’s continued commitment to sustainable operations and ensuring the security of energy in the regions we operate.”
Delivery of the brand new methanol-ready product tankers is anticipated in the course of the first quarter of 2025. On arrival in Canada, theywill be instantly deployed on Irving Oil time constitution.
New vessel highlights:
- Eco-friendly optimized ice class 1B design
- Boston beam width of 27.4 meters
- Methanol prepared as per ABS notations – Methanol Fuel Ready Level 3(S), Methanol Fuel Ready Level 2D (TA, ME)
- High voltage and shore energy (cold-ironing) prepared – ABS notation HVSC-Ready
- Enhanced ballasting capabilities to optimize operations within the Bay of Fundy
