Tag Archives: UASC

UASC prohibits shipment of shark fin

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03-08-2016 – As part of a commitment made to the World Wildlife Fund (WWF) earlier this year, UASC has prohibited the carriage of shark fin and shark fin related products.

WWF estimates that overfishing of sharks has led to around one quarter of the world’s shark species to be under threat. Sharks play a pivotal role in marine ecosystems and their disappearance can have severe consequences on the marine environment. The demand for shark fin as a delicacy is one of the key reasons for over-fishing.

Read more at www.uasc.net

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Hapag-Lloyd and UASC sign Business Combination Agreement

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18-07-2016 – COMBINED COMPANY WILL RANK AMONG THE WORLD´S FIVE LARGEST LINER SHIPPING COMPANIES AND WILL OPERATE ONE OF THE MOST MODERN FLEETS IN THE INDUSTRY / COMPANY WILL OPERATE 237 VESSELS WITH TOTAL TRANSPORT CAPACITY OF AROUND 1,6 MILLION TEU / QATAR HOLDING LLC AND THE PUBLIC INVESTMENT FUND OF THE KINGDOM OF SAUDI ARABIA TO BECOME NEW KEY SHAREHOLDERS OF HAPAG-LLOYD

Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals. Besides the Business Combination Agreement (BCA) between the two companies, the controlling shareholders, namely CSAV Germany Container Holding GmbH, HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH and Kühne Maritime GmbH on the side of Hapag-Lloyd, and Qatar Holding LLC on behalf of the State of Qatar and The Public Investment Fund of the Kingdom of Saudi Arabia on the side of UASC, have assumed certain commitments with regard to the merger and the future equity funding of the company in a separate agreement, the so-called Shareholders Support Agreement (SSA). In that agreement some of the controlling shareholders of either side have committed to backstop a cash capital increase in the amount of USD 400 million planned by way of a rights issue within 6 months after the closing of the transaction.

Read more at www.uasc.net

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UASC launches two new Indian Subcontinent – Europe services (IEC1 & IEC2)

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18-07-2016 – UASC announced two new Indian Subcontinent – Europe services (IEC1 & IEC2), to better align with its customer’s needs, providing a superior service between India Subcontinent and Europe with enhanced reliability and more competitive transit times.

These new, fixed day services are set to replace the current IEC1 service.

Read more at www.uasc.net

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YM, UASC, and CSCL Merge TP Services for Winter Season

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Yang Ming (YM), United Arab Shipping Company (UASC) and China Shipping Container Liner (CSCL are to adjust their service on the Asia – West Coast of North America trade by merging their current services, PSW4 by YM and AAS2/AWS1 by CSCL/UASC, in to a tripartite joint service.

The new joint service shall continue to be branded by the three carriers, respectively, as PSW4/AAS2/AWS1. The service will employ six vessels with nominal capacity of 4,250 TEU; three operated by YM, two operated by UASC, and one operated by CSCL. The revised port rotation is as follows: Xiamen, Ningbo, Shanghai, Los Angeles, Oakland, Xiamen. The first sailing in the merged structure shall depart Xiamen on 6th December 2013.

Together with the establishment of the new joint PSW4/AAS2/AWS1 service, a broader slot swap agreement will be made including YM’s existing PSW2 service and CSCL’s existing AAC service in this trade. Through the slot swap, CSCL and UASC will take slots from YM’s PSW2 service, and YM will take slots from CSCL’s AAC service.

The PSW2 service will be marketed as AAS3 by CSCL and marketed as AWS3 by UASC with the following port rotation: Hong Kong, Yantian, Kaohsiung, Keelung, Los Angeles, Oakland, Pusan, Kwangyang, Keelung, Kaohsiung, Hong Kong.

The port rotation of the AAC service is as follows: Qingdao, Lianyungang, Shanghai, Ningbo, Pusan, Los Angeles, Oakland, Qingdao.

The YM/CSCL/UASC tripartite cooperation in this trade enables a more cost efficient and flexible network and will continue to provide the comprehensive coverage and frequency in West Coast of North America trade.