UASC CEO steps down

UASC CEO steps down

Soerensen

   United Arab Shipping Co. said Monday that Ken Bloch Soerensen will leave his job as president and chief executive officer after completing a four-year contract with the company at the end of this month.
   UASC said that under Soerensen it has seen considerable growth in revenues, continued as a regional market leader and established a larger and stronger presence in the global container markets.
   Last June UASC signed a contract for nine 13,100-TEU ships with Samsung Heavy Industries valued in excess of $1.5 billion. Also during Sorensen’s tenure the company took delivery of eight ships each capable of loading in excess of 6,900 TEUs, the last in November.
   Soerensen had been both a senior executive at A.P. Moller – Maersk and APL, and executive director of the European Liners Affairs Association before joining UASC.
   UASC was established in July 1976 by six shareholding states from the Arabian Gulf — Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia and U.A.E.
   UASC said its board would announce a successor to Soerensen after its May 21 board meeting.