United Arab Shipping Company (UASC) hosted an event in Hamburg recently to celebrate one of the world’s most environmentally-friendly ultra-large containerships, the M.V. Al Muraykh, delivered in August 2015, with its banking partners.
The event was held to acknowledge UASC’s financing partners who have collectively contributed to backing UASC’s newbuilding program, comprising eleven 15,000 and six 18,800 TEU ships.
Basil Al-Zaid, CFO of UASC, said: “In a capital intensive industry like container shipping, it is critical to invest in the most efficient assets to keep pace with market growth and maintain competitive unit costs.
“With our trusted partners, UASC has achieved a series of milestones including our current newbuilding program, considered one of the industry’s largest and most technologically advanced.
“In recent years, efficiency has become an increasingly important differentiator in achieving a solid financial performance, whether it stems from improving vessel design through our newbuilding program, strategic partnerships – such as Ocean 3 and our cooperation agreement with Hamburg Süd – or empowering our people, efficiency pervades every facet of our strategy.”
Capital secured over the previous seven years has been used to finance UASC’s two latest newbuilding orders in 2008 and 2013, as well as the Container box financing and working capital requirements.
M.V. Al Muraykh Captain and his officers. (Source: UASC)