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St. Catharines, Ontario-based Algoma Central Corporation (TSX: ALC) has announced the delivery of the Algoma Legacy, the first of three new methanol-ready Kamsarmax-sized ocean self-unloading vessels being built at Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC) in China.
With the addition of the Algoma Legacy, the company now holds an ownership interest in 100 vessels worldwide — a milestone that underscores its expansion from a regional Great Lakes carrier to a global player in diversified short sea shipping.
“This is a proud moment on two fronts: the delivery of the Algoma Legacy, our first next-generation methanol-ready self-unloader, and the achievement of our 100th vessel globally,” said Gregg Ruhl, president and CEO of Algoma Central Corporation. “This accomplishment reflects decades of growth, strong partnerships, and a steadfast commitment to sustainable shipping solutions. It also speaks to the dedication and passion of our people, whose efforts have brought our iconic Bear emblem to recognition on the world stage.”
A decade ago, Algoma operated fewer than 40 vessels, primarily within the Great Lakes–St. Lawrence Seaway. Since then, the company has expanded its dry and liquid bulk fleets by more than 60 vessels, both in Canada and abroad.
The Algoma Legacy will enter service within the world’s largest ocean self-unloader pool, with two sister vessels scheduled for delivery in 2026 and early 2027. Together, the new ships are expected to be up to 40% more efficient than the vessels they will replace, thanks to improved fuel efficiency and optimized cargo capacity.
Currently, Algoma has seven new vessels under construction, with deliveries planned between 2025 and 2027, continuing its fleet modernization and sustainability strategy.
