United Arab Shipping Company (UASC) has announced an expansion plan in Uruguay with a new joint-venture agency as a result of refrigerated shipment growth, according to JOC.com.
Eric B. Williams, Global Vice President of Sales and Marketing for UASC, said: “We were in Brazil over 20 years ago, in the bulk trades and now we have decided we want to be back in this market. You must not look at it on a short-term basis, but on a long-term basis, and Brazil will turn again one day and we must be ready for the upturn.”
This follows recent news that UASC had begun trading with Iran in order to put more of a priority on its customers and to seize the opportunity to boost trade with the country.
UASC’s Al Muraykh containership recently broke the world loading record for carrying 18,601 TEU on board at DP World London Gateway, which is more than any other containership.
The container shipping company is also the owner of the world’s greenest mega-ship, which is the 18,800 TEU UASC Barzan.
Shipping lines are currently looking for new ways to expand and become profitable, in light of the recent slump in freight rates and overcapacity in the industry.
This comes despite recent reports that mega-ships may not be delivering economies of scale and that cost-savings are not being offered by mega-ships that are being ordered and deployed.