Departing CEO: UASC had to buy bigger ships

The soon departing Chief Executive of UASC, Jørn Hinge, defends the business practices which he implemented at the Arabian container carrier. "We had to buy bigger ships," he tells ShippingWatch. UASC is now being merged into Hapag-Lloyd.
BY TOMAS KRISTIANSEN

With Jørn Hinge's decision to step down from UASC in coming months, the Danish shipping figure's 50-year career will end at a time when the Arabian container carrier has been fighting a battle for survival, and at a time when the cash injections from the Arabian owners have been the only thing really keeping the company afloat. Annual losses totaling hundreds of millions of dollars became the new normal during a period in which other carriers, such as Maersk Line, were still booking big profits.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
  • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Further reading