UAE P&O Maritime Logistics (POML), a wholly owned subsidiary of DP World, has entered into a definitive agreement to acquire a controlling stake in NovaAlgoma Cement Carriers (NACC), the world’s leading operator of pneumatic cement carriers. The acquisition strengthens DP World’s presence in the breakbulk and dry-bulk sectors, particularly in infrastructure-related cargo flows. By expanding into cement logistics, DP World is broadening its end-to-end supply chain capabilities and enhancing service offerings to cargo owners in key growth markets.
Established in 2016 as a joint venture between Nova Marine Holding and Algoma Central Corporation, NACC 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 transaction excludes NACC’s joint venture interests in Northern Europe, Indonesia, and Greece. 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 is subject to customary regulatory approvals and is expected to close in the coming months.
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, said: “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.”
Giovanni Romeo, Chairman of NovaAlgoma Cement Carriers, said: “We are proud of what we have achieved at NACC and excited about the opportunities ahead with DP World and P&O Maritime Logistics. Our continued involvement reflects our confidence in the partnership. Together, we can leverage our collective strengths to accelerate growth, improve services, and better meet the needs of customers worldwide.”
Source: DP World