P&O Maritime Logistics to acquire controlling stake in NovaAlgoma Cement Carriers

P&O Maritime Logistics (POML), a subsidiary of Dubai-based DP World, has entered into a definitive agreement to acquire a controlling stake in cement carrier operator NovaAlgoma Cement Carriers (NACC).

The transaction is subject to regulatory approvals and is expected to close in the coming months. The existing shareholders, Switzerland's Nova Marine Holding and Canada's Algoma Central Corporation, will retain a significant minority interest. The deal excludes NACC’s joint venture interests in Northern Europe, Indonesia, and Greece. NACC’s current operational leadership will remain in place, according to POML.