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Article: Algoma Central Corp. to pay C$42 million for double-hulled Danish oil tanker
- Article from:
- AP Worldstream
- Article date:
- January 17, 2005
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AP Worldstream
01-17-2005
Dateline: TORONTO
Algoma Central Corp., which owns the largest Canadian marine transportation fleet, is paying C$42 million (US$35 million) for a double-hulled, Danish-operated oil tanker.
The Toronto-based company said Monday it has agreed to buy the M.T. Aggersborg, a 1998-built tanker, owned by Borg Tankers II Ltd. of Bermuda and operated by Dannebrog Rederi AS of Copenhagen.
The transaction is expected to close by the second quarter. The vessel is currently trading in the Arabian Gulf/Indian Ocean area and will be repositioned to the East Coast of Canada to join the ...