UASC gambled on ultra-large vessels and lost

The first published financial figures from United Arab Shipping Company tell the tale of a container carrier which placed a risky bet on ultra-large vessels – and wound up losing it all. Half of its cash holdings disappeared in a year and a half, notes Lars Jensen of SeaIntelligence Consulting.

Photo: UASC

That the financial figures from otherwise buttoned-up container carrier United Arab Shipping Company (UASC) have even been published is news on its owns. But the figures also tell an interesting tale of betting the shop on growing in scope before ultimately being force to sell everything.

In the case of UASC, this means that the Arabian carrier will now be acquired by Germany's Hapag-Lloyd, a transaction that will be formalized at a General Assembly in Hamburg on Friday.

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