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Algoma and CSL Order Four ‘Methanol-Ready’ Self-Unloaders

Stock Photo: Michael L Brown / Shutterstock.com

Algoma and CSL Order Four ‘Methanol-Ready’ Self-Unloaders

Mike Schuler
Total Views: 1657
February 17, 2023

Canadian shipping companies Algoma Central Corporation and The CSL Group have announced a newbuild order for four “methanol-ready” self-unloading bulk carriers for the CSL International Pool.

Shipbuilding orders, two by each company, have been placed with Jiangsu Yangzi-Mitsui Shipbuilding in China. The companies also have an option for an additional two vessels.

The Kamsarmax-based ocean belt self- unloading ships will come in at 72,250 DWT and have an unloading at a rate of 5,000 MT per hour. The companies said the new ship design exceeds EEDI Level III requirements and includes Tier 3 engines. The vessels are expected to be 40% more efficient than the ships they will replace owing to a combination of fuel efficiency and optimized cargo lift.

Delivery of the first vessel is scheduled for July 2025 to Algoma with additional deliveries every three months.

The vessels will replace the three oldest ships in the CSL International Pool and grow its fleet size to 19 vessels.

“We are reinvesting with confidence in a business segment that has performed well for us for many years, alongside our long-term partner, and with YAMIC, a shipyard having a proven track record for quality construction and on-time delivery of these specialized assets,” said Gregg Ruhl, President and CEO of Algoma. “The teams at Algoma and CSL combined their decades of experience in this space to design the optimum ship for the Pool trades, while simultaneously taking yet another leap forward in reducing our carbon footprint.”

“This joint order represents our long-term commitment to serving our customers safely and sustainably with our ocean-going Pool of ships,” said Louis Martel, President and CEO of CSL. “Designed with efficiency and versatility in mind, these new vessels will have the advantage of being interchangeable and able to adapt to any trade and operating condition.”

Managed by CSL, the CSL International Pool offers customers a wide range of vessel sizes, delivery systems and self-unloading and transhipment options.

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