New Algoma Legacy takes Algoma Central fleet to 100 ships

Algoma Legacy [Photo: Algoma Central]

St Catharines, Ontario-headquartered Algoma Central Corporation (TSX:ALC), today took delivery of the Algoma Legacy. Built at Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC) in Chin, it is the first of three new methanol-ready Kamsarmax-sized ocean belt self-unloading vessels. With this addition, the company will have an ownership interest in 100 vessels across its global fleet, marking, it says, a “historic milestone that underscores its leadership in long-term growth in diversified short sea shipping markets.”

“This is a proud moment on two fronts: the delivery of the Algoma Legacy, the first of three newbuild next generation methanol-ready self-unloading vessels and the achievement of our 100th vessel globally,” said Gregg Ruhl, president & CEO of Algoma Central Corporation. “Reaching ownership interest in 100 vessels not only reflects decades of progress, strategic partnerships, and a commitment to sustainable shipping solutions for our customers, but also the dedication and passion of our employees. Seeing our Bear recognized on the global stage is a proud reminder of how far we have come as a company.”

A decade ago, the company operated just under 40 vessels, serving primarily the Great Lakes–St. Lawrence Seaway. Today, Algoma’s dry and liquid bulk fleets have grown by more than 60 vessels, in Canada and globally,

The Algoma Legacy will join the world’s largest ocean self-unloader pool, followed by two sister vessels in 2026 and early 2027. These new vessels will replace the three oldest ships in the Pool allowing for redeployment of the vessels being replaced and are expected to be 40% more efficient owing to a combination of fuel efficiency and optimized cargo lift.

Algoma now has seven vessels under construction with deliveries expected between 2025 and 2027.