UAE-based P&O Maritime Logistics (POML), a subsidiary of DP World, has signed a definitive agreement to acquire a controlling stake in NovaAlgoma Cement Carriers (NACC), the world’s leading operator of pneumatic cement carriers. The acquisition marks a strategic expansion of DP World’s footprint in the breakbulk and dry-bulk maritime logistics sector, specifically targeting infrastructure-related cargo flows.
Founded in 2016 as a joint venture between Nova Marine Holding (Switzerland) and Algoma Central Corporation (Canada), NACC operates a modern fleet of dry-bulk vessels equipped with advanced pneumatic systems, specializing in the global transport of cement and related materials. Its operations span North America, Europe, the Mediterranean, South Asia, and the Caribbean, serving key infrastructure markets.
The acquisition excludes NACC’s joint venture interests in Northern Europe, Indonesia, and Greece, which will remain outside the scope of the transaction. Despite the change in ownership structure, NACC’s current operational leadership will stay in place, while strategic oversight will be provided by P&O Maritime Logistics. Nova Marine Holding and Algoma Central will continue to hold a significant minority interest in the company.
The transaction is subject to customary regulatory approvals and is expected to close in the coming months. With this acquisition, DP World takes a strategic leap into cement logistics, expanding its end-to-end supply chain capabilities in key growth corridors around the world.
