Qatar Navigation in talks with UACC on tanker merger

Qatar Navigation in talks with UACC on tanker merger

Doha: Another tanker giant is forming in the Middle East with news Qatar Navigation (Milaha) has opened talks with United Arab Chemical Carriers (UACC) in the United Arab Emirates regarding a possible combination of their respective product and chemical tanker businesses.

Milaha said the move is expected to result in a larger and stronger business, provide better financial returns, and strengthen the combined business market position, if the negotiation is successful.
Currently Milaha operates two chemical tankers and UACC has eight chemical tankers.

The last big tanker merger in the region saw Bahri and Vela join forces in Saudi Arabia.

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1 Comment

  1. Avatar
    Gustavo Jaramillo
    April 13, 2015 at 9:21 am

    According to UACC’s webpage, the operate a fleet of 22 chemical tankers and not 8 as indicated in the article. Does it mean that the merger involves only 8 vessels from UACC?