'The proceeds from this transaction will be invested in UASC's growth and network expansion plans as a leading container shipping line on the Asia/Middle East/Europe trade, as well as in other markets on various north/south trades,' the line said. 'The funds will also contribute to the enhancement of the company's operational initiatives associated with the growing fleet capacity.'
In April, UASC took delivery of its biggest ever ship, the 13,500-TEU Umm Salal. It's the first of nine such A13 class vessels, a series that will significantly expand the line's fleet capacity and allow it to better compete on Asia-Europe services in terms of slot cost efficiency.
UASC Chairman Othman Ibrahim Al-Issa said the loan facility 'marks a significant step in solidifying UASC's financial strategy.'
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now