Holcim New Zealand has confirmed plans to divest the coastal cement carrier it owns to its Swiss-based operator.
The MV Buffalo, a 27 year-old 9092dwt mini bulk carrier, will change ownership to NovaAlgoma Cement Carriers (NACC) at the end of 2025.
The company says that repairs and maintenance work required over the next four years to remain seaworthy mean it is no longer financially viable to operate.
Holcim New Zealand says it plans to source a modern vessel that will be smaller and more cost effective. NACC has already sought permission from the New Zealand government for an interim replacement vessel to operate under a Panamanian flag. It has warned that if a solution can’t be found it will have no alternative but to switch to road transportation, adding to delivery costs.
The Maritime Union of New Zealand has condemned the news, which leaves 32 seafarers with the prospect of losing their jobs. Holcim aid that the consultation process started in February this year and it is committed to providing them with support and redeployment opportunities in accordance with NZ employment legislation,
