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Novaalgoma Cement Carriers Limited Joins Kgj Cement and Erik Thun AB In North Europe with Investment in JT Cement


Nova Marine Carriers is delighted to announce that NovaAlgoma Cement Carriers Limited (“NACC”) has acquired a 25% ownership interest in JT Cement (“JT Cement”), joining KGJ Cement Holdings AS (“KGJ”) and Erik Thun AB (“Thun”) of Sweden in the shipping company which owns a fleet of seven smaller specialized pneumatic cement carriers.

The investment will expand NACC’s global footprint into the Northern European market where KGJ and Thun have a strong presence and will provide additional strength and flexibility to the fleet’s customers.

“We are ready to contribute our know-how and experience on cement carriers in JT Cement and we look forward to working with our new partners to create new opportunities for the JT Cement fleet.” said Salvatore Pugliese, Managing Director of NACC.

About NovaAlgoma Cement Carriers Limited

In January, 2016, Nova Marine Carriers SA and Algoma Central Corporation created NovaAlgoma Cement Carriers. The fleet comprises pneumatic cement carriers that utilize a compressor and pump system to load and unload cement powder. This operation is very clean, with essentially no discharge to the atmosphere. Cement shipping is a regionalized market with generally smaller vessels servicing large global manufacturers that support infrastructure.

About KGJ Cement

KGJ Cement operates and manages a fleet of independent pneumatic cement carriers and is at the forefront of developing innovative, high standard technical and commercial solutions for customers. The company's fleet trades worldwide, with sizes ranging from 3.900 - 19,600 dwt. The size and range of the fleet gives leverage and flexibility to support customers' requirements.

About Erik Thun AB

Erik Thun AB is a family company of the third generation that holds a strong market position in Northern Europe, where they own and operate approximately 40 vessels. These vessels are mainly conventional coastal dry-cargo vessels, self- unloading vessels, product tankers and cement carriers.

About JT Cement

JT Cement, based in Bergen, Norway, operates a fleet of seven specialized cement carriers primarily servicing major cement providers in Northern Europe.

For further information please contact:

Salvatore Pugliese

Managing Director

NovaAlgoma Cement Carriers Ltd.

+ 41 91 822 73 15

Novaalgoma Cement Carriers Limited Joins Kgj Cement and Erik Thun AB In North Europe with Investment in JT Cement