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Basil Al Zaid News

14 Jan 2016

UASC's 18,000 TEU Al Zubara Transits Suez Canal

Photo: UASC

United Arab Shipping Company (UASC) and Ahli United Bank, Egypt marked the passing of 18,800 TEU Vessel M.V. Al Zubara ultra-large container vessel through the new Suez Canal this week. The event is one of the first in a series of activities being organized by UASC to celebrate 40 years in business and was attended by senior dignitaries and officials including Dr. Khaled Fahmy, Minister of Environment (Egypt), Admiral Mohab Mameesh, Chairman of the Suez Canal Authority, Basil Al-Zaid…

19 Oct 2015

UASC Celebrates World’s Greenest Vessel

United Arab Shipping Company (UASC) hosted an event in Hamburg this week to celebrate one of the world’s most environmentally friendly ultra-large container vessels M.V. Al Muraykh, delivered in August 2015, with its banking partners. The event was held to acknowledge UASC’s financing partners who have collectively contributed to backing UASC’s newbuilding program, comprising eleven 15,000teu vessels and six 18,800teu vessels. Members of UASC’s Board of Directors and Executive Management, as well as more than 60 representatives from leading banks and financial institutions from around the world participated in the day-long event that included a guided tour on-board the 18,800teu M.V. Al Muraykh, while on its maiden voyage in North Europe.

27 May 2014

UASC Signs Credit Facility for Two Containership Newbuildings

United Arab Shipping Company S.A.G. (UASC) informs it has concluded a bilateral facility worth USD 190 million with Burgan Bank’s Corporate Banking Group to finance the acquisition of two 14,000 TEU vessels from among UASC's new building order of 17 vessels comprised of eleven 14,000 TEU vessels and six 18,000 TEU vessels. UASC explains it has ordered these ultra large container ships from Hyundai Heavy Industries Co. Ltd. shipyard in South Korea. The giant box-ships, which are state of the art vessels capable of running on conventional fuel and liquefied natural gas, are scheduled for delivery starting in fourth quarter of 2014. Mr.

17 Apr 2013

UASC Announces Expansion Plans

Lars Christiansen

UASC announced two senior executive appointments to further position the company for its next phase of growth. The major transformation and investment program which is underway, calls for a new operating model to support the business. The appointments provide the depth and breadth to UASC’s Executive Management team to deliver on ambitious growth plans. “UASC is preparing for significant changes on the back of new capacity coming into service with a major program of new vessel acquisition,” said Jorn Hinge, UASC President and CEO.