DP World expands bulk logistics
P&O Maritime Logistics (POML), a subsidiary of DP World, is set to acquire a controlling stake in NovaAlgoma Cement Carriers (NACC), the world’s leading operator of pneumatic cement carriers.
The acquisition marks a strategic expansion of DP World’s presence in the breakbulk and dry-bulk sectors, particularly cement and infrastructure-related cargoes.
“This acquisition reflects our commitment to deepening our capabilities in specialised maritime logistics,” said Sultan Ahmed bin Sulayem, group chair and chief executive of DP World.
“NovaAlgoma is a world-class operator with strong leadership and we are excited to welcome them into the DP World family.”
Established in 2016 as a joint venture between Nova Marine Holding and Algoma Central Corporation, NACC operates a fleet focused on the global transportation of cement and dry bulk commodities. Its vessels serve key markets including North America, Europe, the Mediterranean, South Asia and the Caribbean.
By integrating NACC’s capabilities, DP World says it is enhancing its end-to-end supply chain services, offering greater flexibility and efficiency to cargo owners in fast-growing infrastructure markets.
The deal excludes NACC’s joint ventures in Northern Europe, Indonesia and Greece, but both founding shareholders will retain a significant minority stake. NACC’s existing leadership will remain, with strategic direction from POML.
“We are proud of what we have achieved at NACC and excited about the opportunities ahead with DP World and P&O Maritime Logistics,” said Giovanni Romeo, chair of NACC. “Together, we can leverage our collective strengths to accelerate growth, improve services and better meet the needs of customers worldwide.”
The transaction is subject to regulatory approvals and is expected to close in the coming months.
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