Two new eco-friendly ice-class tankers ordered by Algoma

Algoma Central Corporation is investing $127 million to have the Hyundai Mipo Shipyard in South Korea build two 37,000 DWT ice-class product tanker vessels that will be methanol and shore power ready.

“These vessels have been designed to support Irving Oil’s unique operational requirements and with a view towards optimizing the carbon requirements in these trades, now and into the future,” says Gregg Ruhl, Algoma’s president and CEO.

With their expected delivery in the first quarter of 2025, the new tankers be registered under the Canadian flag as long-term charters to Irving Oil. They will service the energy company’s refinery in Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the U.S. East Coast.

The vessels will be equipped with enhanced ballasting capabilities to optimize their operations within the Bay of Fundy.