Three bidders vie for UACC

Three bidders vie for UACC

Bahri, the giant Saudi tanker owner, Milaha, the diverse Qatari maritime conglomerate and an unidentified UAE firm have all been linked with bids for United Arab Chemical Carriers (UACC), according to Reuters.

The sale of UACC is one of the hurdles still left in the ongoing merger between containerlines Hapag-Lloyd and United Arab Shipping Company (UASC). UASC is the largest shareholder in UACC and the chemical carrier arm needs to be sold before the container merger can proceed.

Splash understands the unidentified UAE owner is Gulf Navigation, a company that has undergone a rapid diversification in the past year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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