DP World via P&O Maritime Logistics Acquires 51% of NovaAlgoma Cement Assets (NACC)

July 3, 2025

NovaAlgoma Cement Carriers Limited, a joint venture between Algoma Central Corporation and Nova Marine Holdings, entered a definitive agreement under which P&O Maritime Logistics (POML), a DP World wholly owned subsidiary, will acquire a 51% controlling stake in NovaAlgoma’s wholly owned cement assets. NovaAlgoma will retain a 49% minority interest through a new entity based in Dubai (NACC), with no expected changes to day-to-day vessel operations and fleet management teams.

Buyers
P&O Maritime Logistics (POML)
Targets
NovaAlgoma Cement Carriers Limited (cement assets; NACC entity to be held via new Dubai entity)
Sellers
NovaAlgoma Cement Carriers Limited, Algoma Central Corporation, Nova Marine Holdings SA
Platforms
DP World
Industry
Transportation
Location
Switzerland
Transaction Type
Buyout

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