The shipping company is a leader in the sea transport of cement thanks to a fleet of 25 cement vessels operating in particular in North America, the Caribbean, Northern Europe, the Mediterranean and South East Asia
P&O Maritime Logistics (POML), a company wholly owned by DP World, has acquired 51% of Nova Algoma Cement Carriers, a shipping company until now controlled by Nova Marine Carriers of Lugano and participated by the Canadian group Algoma, as well as a world leader in the management of cement carriers
A note released by Nova Marine Carriers
It is noteworthy that a note released by Nova Marine Carriers in which it is specified that the joint venture companies that Nova Algoma manages with other partners in Norway, Indonesia and Greece are excluded from the agreement.
A basic strategic alliance
“The relationship with the new Emirati partner goes beyond the simple financial operation but is configured as a real basic strategic alliance, harbinger of further developments: the current shareholders Nova Marine Holding SA (controlled by the Romeo and Gozzi families) and Algoma Central will continue to hold the minority package with direct and priority involvement in management (which not coincidentally will remain located in Lugano, while the holding will be based in Dubai) as well as in the strategic growth of the group” reads the announcement.
The joint venture
The joint venture between Nova Marine Holding and Algoma Central Corporation was established in 2016 and today Nacc operates a fleet of 25 advanced technology cement vessels and boasts a consolidated presence in markets such as North America, the Caribbean, Northern Europe, the Mediterranean and South East Asia. The agreement is currently subject to approval by the competent authorities.
For the Nova Marine group and the Romeo family – the note continues – that of alliances and joint ventures represents a consolidated strategy, as already demonstrated in the last thirty years with agreements among which those with the Canadian Algoma, with the German Bolten, with the Colombian Navesco, with the Greek Halkidon stand out. Certainly the agreement with the DP World group marks an unprecedented qualitative leap, a harbinger of other developments in the entire logistics chain”.
Developing specialized shipping and logistics sectors.
Sultan Ahmed bin Sulayem, CEO and Chairman of DP World Group, said: “This agreement confirms our commitment to developing highly specialized shipping and logistics sectors. Nova Algoma is a world-class operator with a strong leadership position in highly specialized logistics; welcoming them to the DP World family is a source of great satisfaction for us. Combining our global approach to markets with their technical and commercial expertise, puts us in an excellent position to guarantee our customers real added value by growing together in this important strategic segment”.
Accelerate development
Giovanni Romeo, President of Nova Algoma Cement Carriers, added: “We are very proud of the results we have achieved in Nacc and we strongly believe in the development opportunities with DP World and P&O Maritime Logistics. This agreement reaffirms our strong strategic belief: to grow you need to join forces. Only in this way can we accelerate development, expanding the range of services, increasing their quality and thus meeting the demand of our customers around the world
Related :DP World boosts cargo capacity ,acquires 47,000 TEUs
Source : Italian Media
