The JV will be known as NovaAlgoma Short-Sea Carriers and is set to focus primarily on the short-sea dry bulk shipping industry.
It will operate an initial fleet of 70 bulker vessels, including self-owned and chartered ships, as well as vessels under third-party management contracts.
Norwegian lifeboat manufacturer Norsafe Group has secured a contract to provide life-saving appliances for an arctic supply and research vessel being built by Damen Schelde Naval Shipbuilding.
The deal includes the supply of two JYN-85 conventional lifeboats with LH-140 davits, and two JYN-115 lifeboats with LH-185 davits.
The vessel is planned to be operated by Australian Antarctic Division.