NASC and Peter Döhle Schiffahrts share the same shipping DNA
The two companies announced the creation of the largest mini-grabber pool in the world
NovaAlgoma Short Sea Carriers (NASC), a joint venture, founded in 2016, of Algoma Central Corporation of Canada and Nova Marine Holdings SA of Luxembourg, and shipmanagement company Peter Döhle Schiffahrts-KG (PDS) of Germany announced the creation of a new entity, considered to be the largest mini-grabber pool in the world.
DNA Shipping is a new commercial agreement to pursue consolidation and growth within the multi-purposeproject vessel (MPP) and 13,500 to 15,000 mini-grabber dry-bulk markets.
The joint venture is expected to begin operation in October and will comprise 26 vessels, including 13 MPP vessels and 13 mini-bulkers: NASC will contribute 12 vessels and PDS will contribute 14.
The MPP vessels will be managed by PDS’s existing commercial management office located in Hamburg, Germany, while the bulkers will be managed from the NASC commercial office in Lugano, Switzerland. The joint venture partners’ other offices in Rotterdam, Miami, Houston, and Dubai are also expected to produce cargoes for the Pool.
While the business will be managed as two separate commercial fleets, the partners expect to exploit cargo synergies that exist across the MPP and bulker segments and to benefit from shared best practices of the two companies. The joint venture will also reach out to owners of vessels in the MPP and mini-bulker markets who are in need of commercial management with the objective of expanding the fleet.
“We believe the creation of this new agreement is a first step in bringing consolidation to the fragmented MPP and mini-bulker markets” said Ken Bloch Soerensen, Executive Chairman of NASC. “As our new name suggests, we feel we share DNA, values, and an approach to the conduct of our business with PDS, which leads to a strong foundation for growth”.
“We are extremely pleased that PDS and NASC have been able to put this joint venture together in such a short period of time. We share a common vision of the future of this business and we bring combined resources to bear that lead us to be
optimistic about our chances of success” Jochen Döhle, Chief Executive Officer of PDS elaborated.