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Algoma Central Corporation and Furetank Double Investment in Product Tankers

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Thursday, November 10, 2022
Maritime, Transport, Logistics, Supply Chain Management, Other Transport, International Maritime Organization, Carbon, Fuel, Shipyard, DWT, CO2, ALC, Environment, IMO, Multimedia, Lake, Giant, News, Company, Climate, Algoma Central, Great Lakes, CEO, TSX, Revolution, Vinga, Fuel oil

Algoma Central Corporation (TSX: ALC) today announced that it has doubled its investment in the FureBear joint venture, and will construct four additional dual-fuel ice class 1A 17,999 DWT climate-friendly product tankers with their partner Furetank AB (Furetank) of Sweden, bringing the total investment to eight vessels.

Key Points: 
  • Algoma Central Corporation (TSX: ALC) today announced that it has doubled its investment in the FureBear joint venture, and will construct four additional dual-fuel ice class 1A 17,999 DWT climate-friendly product tankers with their partner Furetank AB (Furetank) of Sweden, bringing the total investment to eight vessels.
  • View the full release here: https://www.businesswire.com/news/home/20221109006066/en/
    Algoma Central Corporation and Furetank double investment in climate-friendly dual-fuel product tankers.
  • The expansion of our FureBear investment with Algoma is exciting news, said Lars Hglund, CEO of Furetank.
  • Furetank operates nine owned vessels and is a founding member of the Gothia Tanker Alliance; a market platform for small and intermediate product tankers, operating 40 vessels in European waters.