Media: UASC looks into divesting tanker fleet as part of merger

United Arab Shipping Company considers selling its tanker business for more than USD 600 million as part of the plans to merge with Germany's Hapag-Lloyd, writes Bloomberg.

Photo: UASC

The merger between German Hapag-Lloyd and United Arab Shipping Company (UASC) has presumably spurred the Dubai-based carrier to consider selling its chemical tanker business, anonymous sources familiar with the process tell Bloomberg.

The carrier is partnering with Bank of America to find buyers for the product and chemical tanker carrier United Arab Chemical Carriers, headed by Per Wistoft, for more than USD 600 million. However, no final decision to sell has been made yet.

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