Algoma has welcomed the first of two new methanol-fuel-ready product tankers into Saint John Harbour on 28 April.
As informed, the vessels will service Canada’s largest refinery with deliveries to ports in Atlantic Canada and the U.S. East Coast. The vessels represent a total investment of $127 million by Algoma in partnership with Irving Oil. The Algoma East Coast and the Algoma Acadian – the latter of which will arrive later this spring – are 37,000 DWT ice class product tanker vessels ordered by Algoma and constructed at the Hyundai Mipo Shipyard in South Korea. Both vessels will be on long-term time charter to Irving Oil under Canadian flag.
These additions introduce a new asset class to the segment, enhancing our operational capabilities and expanding the markets we serve. This milestone in our newbuild journey has been incredible to witness, made possible through our collaboration with Irving and the dedication and expertise of our operations team.
… said Algoma’s President & CEO Gregg Ruhl.
Vessel highlights:
- Volume: 260,000 to 265,000 barrels (bbls)
- Products: Petroleum products (gasoline, diesel, jet fuel)
- Where: Vessel will primarily trade in Eastern Canada, with voyages to U.S. Atlantic Coast
- Construction timeline: Completion in approximately 10 months
- Boston Beam width of 27.4 metres
- Methanol ready as per ABS Notations – Methanol Fuel Ready Level 3(S), Methanol Fuel Ready Level 2D (TA, ME)
- High voltage and shore power (cold-ironing) ready – ABS Notation HVSC-Ready
- Enhanced ballasting capabilities to optimize operations in the Bay of Fundy
This investment underscores our company’s commitment to providing energy security in the regions where we operate. We remain focused on providing a safe and secure supply of energy products to our customers, both today and tomorrow
… commented Irving Oil President & CEO Jeff Matthews. “
