FureBear, the joint venture between Algoma Central and Furetank, has taken over ownership of an Algoma product tanker as a stopgap before the delivery of its newbuild dual-fuel Vinga class vessels in the next few years.
The 16,900-dwt Algonorth (built 2008) has arrived from Canada to trade in northern Europe under the name Fure Skagen.
Last year, the FureBear partners ordered eight 18,000-dwt ice-class tankers able to run on LNG, liquid biogas or gasoil with the help of battery power. They are due from China Merchants Jinling Shipyard later this year and into 2025.
The Fure Skagen will fly the Faroe Islands flag and be owned by FureBear and Larsson Shipping while commercially managed by Furetank Chartering in the Gothia Tanker Alliance.
“This is another example of how great partnerships lead to further collaborations that optimise organisational strength and enable us to deploy assets to the best and highest use for our customers,” said Algoma chief executive Gregg Ruhl.
Algoma acquired the vessel from Furetank’s Gothia Tanker Alliance partner Rederi Alvtank in 2018.
Sweden’s Furetank operates nine owned ships and is a founding member of the Gothia alliance, a market platform for small and intermediate product tankers that operates 40 vessels in European waters.
Canada’s Algoma owns and operates bulk carriers and tankers on the Great Lakes and St Lawrence Seaway.
