NovaAlgoma Cement Carriers (NACC) has upped its stake in its joint venture with Sweden's Erik Thun in a bid to boost its presence in northern Europe.
The company, which is controlled by Canadian shipowner Algoma Central and Swiss bulker player Nova Marine Carriers, said the investment gives it a 50% stake in JT Cement.
Erik Thun retains the remaining half of JT, which controls a fleet of eight specialised pneumatic cement carriers, including three newbuildings.
