by Guest » December 27, 2010, 4:52 pm
Joesmoke wrote:I wonder what this means for ULS, they seem to have dithered again on their shipbuilding, with Algoma continuing to add to the SMT fleet and ULS loosing more and more ships to scrap, one must wonder if this will be the end of SMT & ULS and will be just Algoma ?
Back in the late 1990s I spoke to a gentlemen who worked in the marine industry, and there were rumblings about this very same thing. His rationale was that of the many bulkers acquired from GLBC in the mid 1990s, the ones in worse shape went mainly to ULS, while the better ones went to Algoma. He said that at the time there were rumors that when all was said and done, by 2020 or so ULS and Algoma would probably have merged under the Algoma banner. I didn't think much of it until I read this post, but the fact that ULS is currently building the Canadian Mariner in China is a good sign for the company. It all will depend, I guess, on what ULS does as vessels such as the Progress and Olympic age. Will they be replaced or will ULS simply write them off once they lose the Ontario Hyrdo coal runs for good and cede some of the remaining cargos to Algoma via the SMT partnership?
[quote="Joesmoke"]I wonder what this means for ULS, they seem to have dithered again on their shipbuilding, with Algoma continuing to add to the SMT fleet and ULS loosing more and more ships to scrap, one must wonder if this will be the end of SMT & ULS and will be just Algoma ?[/quote]
Back in the late 1990s I spoke to a gentlemen who worked in the marine industry, and there were rumblings about this very same thing. His rationale was that of the many bulkers acquired from GLBC in the mid 1990s, the ones in worse shape went mainly to ULS, while the better ones went to Algoma. He said that at the time there were rumors that when all was said and done, by 2020 or so ULS and Algoma would probably have merged under the Algoma banner. I didn't think much of it until I read this post, but the fact that ULS is currently building the Canadian Mariner in China is a good sign for the company. It all will depend, I guess, on what ULS does as vessels such as the Progress and Olympic age. Will they be replaced or will ULS simply write them off once they lose the Ontario Hyrdo coal runs for good and cede some of the remaining cargos to Algoma via the SMT partnership?