Algoma Central Corporation Takes Delivery of Three Vessels Within One Week

ST. CATHARINES, Ontario--(BUSINESS WIRE)--Algoma Central Corporation (“Algoma”, “Company”) (TSX: ALC) has achieved a significant milestone, taking delivery of three new ships, from three different countries, within one week for the first time in Company history. Since 2013, Algoma has built 23 vessels with 12 more on order or under construction.

“This milestone reflects Algoma’s commitment to making significant capital investments to meet our customers’ needs - in the U.S., Canada, and internationally - with the most efficient, reliable, and cost-effective fleet possible,” said Gregg Ruhl, President and CEO of Algoma Central Corporation. “This is a massive undertaking that clearly demonstrates our focus on customer service, fleet renewal, and strategic growth. Special thanks to our Bear Family and partners as these new vessels would not be possible without world-class collaboration and a world-class team.”

On February 25, 2025, FureBear, a joint venture between Algoma and Furetank of Sweden, took delivery of its fifth new product tanker, the Fure Vesborg. This climate-friendly dual-fuel tanker commenced operations this week, loading its first cargo in China, and is expected to begin trading in Northern Europe in the second quarter of 2025. The remaining five vessels in the FureBear newbuild order are scheduled for delivery throughout 2025 and early 2026.

On February 26^th, the Algoma Endeavour was delivered at the 3 Maj Shipyard in Rijeka, Croatia. This 740-ft forward-mounted self-unloader is Algoma’s final Equinox Class vessel, bringing the series to a total of 12 since the first vessel was delivered in 2013. These vessels are optimized for the Great Lakes and St. Lawrence Seaway and are dedicated to a long career serving our bi-national U.S. and Canadian customers. Endeavour is also the third in Algoma’s domestic dry-bulk fleet with a forward-mounted boom, joining the Algoma Intrepid and Algoma Innovator.

On March 4^th, the Algoma East Coast was delivered in South Korea at the HD Hyundai Mipo shipyard. This methanol-ready, ice-class product tanker is the first of two vessels being constructed to serve markets along the Canadian and US east coasts. Her sister ship, the Algoma Acadian, is scheduled for delivery in late‑March.

As Algoma continues to modernize, diversify, and grow its fleets, each new addition will enhance stability, reliability, productivity, and sustainability, reinforcing Algoma’s commitment to its North American and global customers and the critical industrial and manufacturing sectors they support.

About Algoma Central Corporation

Algoma Central Corporation is a global provider of marine transportation, owning and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes-St. Lawrence Region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels, and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities, and supporting its people. Algoma truly is Your Marine Carrier of Choice™. Learn more at www.algonet.com.