NovaAlgoma Cement Carriers (NACC), the joint venture between the Helvetic Nova Marine Carriers and the Canadian Algoma Central Corporation, will be controlled by the P&O Maritime Logistics (POML), society of services and marine transport of entire property of the DP World group of Dubai. NovaAlgoma has announced that it has signed a binding agreement with POML according to which the latter will acquire 51% of the assets of NovaAlgoma in the segment of the cement ships. The transaction excludes the participations of NovaAlgoma in Northern Europe, Indonesia and Greece. NovaAlgoma will hold the remaining 49% of the new entity based in Dubai that will arise from the transaction.

The constitution of joint venture NovaAlgoma between Nova Marine Holding and Algoma Central Corporation dates back to 2016 and today NACC operates a fleet of 25 cement ships and has a consolidated presence in markets such as North America, Caribbean, North Europe, Mediterranean and South East Asia. The agreement is currently subject to approval by the competent authorities.