Vessels to carry more cargo
TORONTO: The Wheat Board of Canada (CWB) will buy two new gearless bulk carriers, while Upper Lakes Group Inc will purchase one new gearless bulk carrier, Algoma Central Corporation said.
The deals are in conjunction with the purchase of one gearless bulk freighter and three self-unloading bulk freighters Algoma announced last December 21. Nantong Mingde Heavy Industries, a shipyard in the Yangtze Delta in China, will produce the ships. The first ship is expected to enter service in 2013 with the remaining ships to follow through mid-2014.
The new equinox class vessels will be able to carry more cargo and move faster than existing ships they will replace, Algoma said. The new ships will also require less fuel, which means lower fuel costs and emissions.
Upon arrival, they will be chartered to Seaway Marine Transport (SMT), which will operate and manage the ships. SMT will deploy them in their dry bulk trades on the Great Lakes-St. Lawrence Waterway. SMT is a partnership of Algoma and Upper Lakes.