United Arab Shipping

United Arab Shipping

UASC, or United Arab Shipping Company, is the world’s 18th-largest container shipping company, with 53 vessels with a combined capacity of approximately 400,000 TEUs. Founded in 1976, the Dubai-based ocean carrier serves Asia from Singapore, Northern Europe from Hamburg, the Middle East and Indian Subcontinent from Dubai, the Mediterranean and North Africa from Istanbul, and the Americas from Cranford, New Jersey, USA.

UASC, the largest shipping company in the Middle East, was established jointly by the six Gulf Arab states Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia and U.A.E.

UASC was the 19th-ranked container carrier in U.S containerized import trade in 2013, with volume of 186,944 TEUs, up 56.2 percent year-over-year, giving it market share of 1.0 percent. It was No. 21 in U.S. containerized export trade in 2013, with volume of 134,348 TEUs, up 17.8 percent year-over-year and market share of 1.1 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.

A Hapag-Lloyd container ship.
28 Feb 2018
Hapag-Lloyd's 2017 results included seven months of United Arab Shipping Company's performance data; even so, the strong increase in volume and revenue did little to boost average freight rates.
30 Nov 2017
Six months after the merger process started, UASC was integrated with German carrier Hapag-Lloyd.
14 Nov 2017
UASC is making its presence felt as the carrier is merged into Hapag-Lloyd operations.
14 Sep 2017
US maritime regulators on Thursday voted to allow ocean carrier members of THE Alliance to form an emergency fund.
29 Aug 2017
Transport volume grew by 14 percent to 4.22 million TEU.
05 Jul 2017
The notes will be listed on the Luxembourg Stock Exchange.
28 Jun 2017
Hapag-Lloyd has been taken off Standard & Poor’s CreditWatch.
30 May 2017
The shareholders also approved the expansion of the company’s supervisory board.
24 May 2017
“This is an important strategic milestone and a big step forward for Hapag-Lloyd.”
17 Mar 2017
The two carriers had planned to close on the transaction by March 31.
21 Dec 2016
Hapag-Lloyd says it is confident of closing on the merger with United Arab Shipping Company very soon following reports the deal faces delay over financing issues.