Furetank and Algoma Central Corporation extend joint venture through tanker acquisition with Larsson Shipping

The Furetank/Algoma joint venture FureBear, together with Larsson Shipping, takes over the ownership of Algoma’s product tanker Algonorth. It has arrived from Canada to trade in Northern Europe under the new name Fure Skagen.

– We are strengthening our collaboration with Algoma, with a high standard vessel of its generation. The addition of Fure Skagen will improve the services we can offer our customers and give us a well-timed overlap while waiting for the new Vinga series vessels to arrive from the shipyard in China in the coming years, says Lars Höglund, CEO of Furetank.

Fure Skagen is a 16,958 dwt double hull product oil tanker built in 2008. Her twelve epoxy coated cargo tank capacity is 19,594 cubic metres. Her ice class and super strip system makes her well designed for the intense Northern European trade.

– This is another example of how great partnerships lead to further collaborations that optimize organizational strength and enable us to deploy assets to the best and highest use for our customers. We look forward to having Fure Skagen joined by eight newbuilds, to be owned by FureBear, with the first vessel expected to be delivered later this year, says Gregg Ruhl, President and CEO of Algoma Central Corporation.

Furetank’s customers have previous experience with Fure Skagen, as Algoma acquired the vessel from Furetank’s Gothia Tanker Alliance partner Rederi AB Älvtank in 2018.

Fure Skagen will be flying the Faroe Island flag and is owned by FureBear and Larsson Shipping. She will be commercially managed by Furetank Chartering in the Gothia Tanker Alliance.