JT Cement adds new vessel to fleet

JT Cement adds new vessel to fleet
20 August 2018

Norway-based JT Cement has ordered a new pneumatic cement carrier from Dutch shipyard Ferus Smit. The new vessel will be a sistership to the M/V Greenland and is expected to be delivered in July next year. It will have a cargo-carrying capacity of 8000dwt, which is bigger than the Greenland, and a greater LNG tank capacity at 200m3 to improve steaming time.

In June this year, NovaAlgoma Cement Carriers (NACC) acquired a 25 per cent share in JT Cement, joining KGT Cement Holdings and Erik Thun AB. The investment will expand NACC’s global footprint into northern Europe. “This investment will allow us to each apply our experience and knowledge in the pneumatic cement carrier market to create additional shipping solutions,” says Ken Bloch Soerensen, president and CEO, Algoma Central Corp.

JT Cement already operate a fleet of seven specialised pnuematic cement carriers. According to the company, the daily operations of the fleet will not change as a result of the NACC investment and the vessels will continue to be managed from the Bergen, Norway, office of KGT Cement Holdings. Technical management of the fleet is handled by MF Shipping Group in The Netherlands.

Meanwhile, new sanction lists from the US and retaliation from China has put pressure on commodity buyers and shippers alike. In early July US president Donald Trump unveiled the biggest list of goods yet that the US may hit with higher tariffs in its trade war with China. According to the list, US$200bn of Chinese goods could face a 10 per cent tariff following public consultations which end on 30 August.
Early July also saw the Baltic Dry Index jump an impressive 24 per cent from 1309 points on 27 June to 1622 points on 6 July.

Published under Cement News

Tagged Under: freight