In a bold move to deepen its capabilities in specialized maritime logistics, DP World, through its subsidiary P&O Maritime Logistics (POML), has acquired a 51% controlling stake in NovaAlgoma Cement Carriers (NACC), a leader in pneumatic cement carrier operations. This strategic acquisition is set to enhance DP World’s presence in the dry bulk and breakbulk sectors, especially in infrastructure-driven cargo flows.
Founded in 2016 as a joint venture between Switzerland's NovaMarine Holdings and Canada’s Algoma Central Corporation, NACC operates a fleet of modern cement carriers, serving key markets across North America, Europe, the Mediterranean, South Asia, and the Caribbean. The partnership will enable DP World to leverage NACC's specialized operations and extend its global reach, particularly in the growing infrastructure and construction sectors.
The deal, valued at an undisclosed amount and still subject to regulatory approvals, excludes NACC’s joint ventures in Northern Europe, Indonesia, and Greece, which will remain under the original partnership. While NACC’s leadership team will continue to manage the fleet, strategic oversight will now fall under the P&O Maritime umbrella.
With this acquisition, DP World further solidifies its ambition to enhance end-to-end logistics capabilities, providing cargo owners with a more comprehensive service offering across key growth markets. As DP World’s Chairman and CEO Sultan Ahmed bin Sulayem stated, “NovaAlgoma is a world-class operator with strong leadership, and we are excited to welcome them into the DP World family. Together, we will deliver greater value to our customers and grow in this strategically important segment.”
Moreover, NACC's investment in a methanol dual-fuel cement carrier, slated for delivery in 2026, aligns with the global push for greener and more sustainable shipping practices.
This acquisition marks another significant milestone in DP World’s expansion within the maritime industry, reinforcing its position as a leading global logistics provider.
by Xinde Marine News Chen Yang
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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