The Dubai-based P&O Maritime Logistics (POML), a wholly owned subsidiary of UAE headquartered DP World, has entered into a definitive agreement to buy a controlling stake in NovaAlgoma Cement Carriers (NACC), an operator of pneumatic cement carriers.
The NACC deal strengthens DP World’s presence in the breakbulk and dry-bulk sectors, particularly in infrastructure-related cargo flows.
NACC was established in 2016 as a joint venture between Nova Marine Holding and Algoma Central Corporation. The company specialises in the global transportation of dry-bulk commodities with a focus on cement, using modern vessels equipped with advanced pneumatic handling systems serving key infrastructure markets across North America, Europe, the Mediterranean, South Asia, and the Caribbean.
The existing shareholders, Nova Marine Holding SA of Switzerland and Algoma Central Corporation of Canada, will retain a significant minority interest. NACC’s current operational leadership will remain in place, with strategic oversight guided by P&O Maritime Logistics.
The transaction, which excludes NACC’s joint venture interests in Northern Europe, Indonesia, and Greece, is subject to customary regulatory approvals and is expected to close in the coming months.
“This acquisition reflects our commitment to deepening our capabilities in specialised maritime logistics. NovaAlgoma is a world-class operator with strong leadership, and we are excited to welcome them into the DP World family. By combining our global reach and scale with their technical and market expertise, we are well-positioned to deliver greater value to our customers and to grow together in this strategically important segment,” says Sultan Ahmed bin Sulayem, DP World Group chairman and CEO.
