P&O Maritime Logistics (POML) has acquired a controlling stake in NovaAlgoma Cement Carriers (NACC), a transporter of dry-bulk commodities.
The deal was first announced by POML’s parent company DP World in July.
Alongside P&O Maritime’s 51% stake, the existing shareholders of NACC — Switzerland-based Nova Marine Holding and Algoma Central Corporation of Canada — hold a 49% minority interest in a new entity, headquartered in Dubai.
The transaction, which is now fully concluded, excluded NACC’s joint venture interests in Northern Europe, Indonesia, and Greece.
The acquisition strengthens DP World’s presence in the breakbulk and dry-bulk sectors, particularly in infrastructure-related cargo flows.
It also reflects the company’s commitment to deepening its capabilities in specialised maritime logistics, DP World chairman and CEO Sultan Ahmed bin Sulayem, said in July.
NACC, established in 2016, specialises in the global transportation off commodities, primarily cement, using modern vessels equipped with advanced pneumatic handling systems.
Earlier this month, DP World launched a joint venture with Tashkent Invest to develop a new multimodal logistics terminal near the Uzbek capital.
