There’s been a management shakeup at chemical tanker specialist United Arab Chemical Carriers (UACC) in Dubai with both the company’s ceo and coo stepping down.
Per Wistoft, ceo of UACC since 2013, has departed as has his coo, Mathieu Philippe.
In July, Splash reported United Arab Shipping Co (UASC) was considering the sale of its stake in UACC as part of its plans to merge with German container line Hapag-Lloyd.
UASC’s stake in the chemical tanker unit is thought to be 39.4%, with Bahrain’s Gulf International Bank, Yusuf Bin Ahmed Kanoo Holding and Qatar’s Milaha each owning 10.5% respectively.
UACC operates a fleet of four LR1s and 20 MR product tankers. VesselsValue.com estimates the combined market value of the UACC fleet at $530.75m.
