United Arab Shipping Company is investing more than $2.3bn in bigger ships and forming alliances with peers to boost efficiency and ride out tough markets.
“Size matters in this business,” said Jorn Hinge, President and CEO of United Arab Shipping Company (profile). “We are in expansion mode,” he told Reuters in an interview.
UASC has 17 container ships on order for delivery between 2014 and 2016 – the first to be supplied in November – with a total contract value of $2.3bn, the company said. Read more