Posted: December 27, 2017
Algoma Central Corporation acquires four American Steamship Company vesselsAlgoma Central Corporation announced December 21 it reached an agreement with American Steamship Company to acquire four vessels. Algoma has acquired the M/V Buffalo, M/V Adam E. Cornelius, S/S American Valor and S/S American Victory.
The M/V Buffalo sailed in active service under U.S. registry during the 2017 season on the Great Lakes. The vessel was leased by American Steamship Company, and the lease was coming to an end. American Steamship Company described the other three vessels involved in the Algoma acquisition as "idle for some time, with no prospects," referring to service in U.S. domestic markets.
In its announcement, Algoma reported: "All four ships are former U.S.-flag lakers that will be transferred to the Canadian registry for service in the Great Lakes-St. Lawrence trade."
Algoma reported the Buffalo and Cornelius will provide efficient capacity to serve customers in the river-class segment of Algoma's dry bulk market.
Algoma reported the American Valor and American Victory "have the potential to be re-powered as motor vessels, converted to articulated tug barges, or have their forebodies mated with existing modern sterns; however, no immediate plan for these two vessels has been confirmed."
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