Under the contract, Jiangsu will construct four methanol-powered Kamsarmax-based ocean belt self-unloading vessels.
Designed to replace the Pool’s three oldest vessels, the new vessels are expected to serve as the model for the companies’ next generation of ocean self-unloaders.
Two of the vessels have been ordered by Algoma, while the other two are ordered by CSL. The agreement also has an option for the construction of two further vessels.
Starting with an Algoma ship, the first delivery is expected in July 2025. The remaining vessels will be delivered every three months.
Algoma president and CEO Gregg Ruhl said: “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 specialised assets.”
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Featuring Tier Three methanol-ready engines and fourth-generation Kamsarmax hull form, the new vessels will have a cargo capacity of 72,250 metric tons.
Furthermore, the vessels will have an unloading capacity rate of 5,000MT an hour.
In line with the decarbonisation goals of both entities, the new ships’ design is claimed to surpass EEDI Level III requirements.
CSL president and CEO Louis Martel said: “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.”