The United Arab Shipping Company (S.A.G.), future plans include modernizing fleet and inducting eight new state-of-the-art containerships

New ships to be deployed on routes handling trade between the Arabian Gulf, Europe and Far East

Dubai, United Arab Emirates, 1st Feb, 2007: The United Arab Shipping Company S.A.G. (UASC), the national flag carrier of the Gulf Countries and the largest ocean carrier of dry cargo in the Middle East, today celebrated its 30th Anniversary at a high profile event. Held at the Hotel Grand Hyatt in Dubai and coordinated by United Arab Shipping Agencies Co - Emirates (UASAC), a wholly-owned subsidiary of UASC, the event was attended by high level ports personnel and business personalities from UAE and the regions shipping industry.

Established in 1976, UASC was set up to strengthen economic links and resources within the region, and to reduce the region's dependence on foreign lines for the transportation of merchandise. The Head Office was established in the State of Kuwait. In 2006, the commercial and operational units moved to the UASC building in Dubai.

Today, UASC is the largest ocean carrier of dry cargo to the Middle East. This pre-eminent position has been achieved and maintained for many years, despite periods of drastic changes in market conditions by providing a first-class service to its customers.

Speaking at the 30 year celebrations event, Mr. Abdulla H. Al Shamsi, General Manager, UASAC (Emirates), said: "This milestone of UASC successfully completing 30 years is of great significance to us as the period has not just seen the company emerge as the largest ocean carrier of the Middle East but has also seen the company successfully battle through the extremely difficult times of the Gulf wars emerging stronger than before. Going forward, we aim to continue our focus on developments that will provide value to our customers and cost efficiency in our operations."

Addressing guests at the reception, Mr. Ken Bloch Soerensen, President and Chief Executive Officer - United Arab Shipping Company (UASC) said, "We would like to thank our customers and business associates for their continued support over the last 30 years. UASC has always been committed to the region and will continue to do so. UASC, known for its high customer service levels and excellent operational skills, has been financially strong, and remains to be, thus allowing us to grow with our customers."

Mr. Soerensen also added that UASC will stay committed to the region and to the industry by investing in new ships and containers in order to sustain the growth of the region and adjacent markets. He also said that UASC will also invest in improved service levels to their customers through the introduction of an enhanced IT system, building closer relationships with their agents and continued education of their staff.

UASC's future plans include its endeavour to enhance its status as an international carrier of high repute and has thus undertaken an extensive Fleet Modernization exercise. It has contracted with a Korean shipyard, to construct eight new containerships of 6800 TEU size, each with a service speed of 24.5 knots. UASC plans to deploy these eight new ships, scheduled for delivery during 2008, on routes handling trade between the Arabian Gulf, Europe and Far East. These ships will enable UASC to provide its customers with reduced transit time and better quality of service. Furthermore, UASC also has additional fleet expansion plans aimed at meeting its potential growth requirements and customer expectations.

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About UASC
UASC was established in 1976; jointly by the six shareholding states from the Arabian Gulf (Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia and U.A.E). UASC is with a turnover in excess of US$ 1 billion a financially strong shipping company, very capable of maintaining and expanding its reliable and stable shipping services to our customers worldwide. UASC is also an active member of the relevant maritime conferences that serve the Arabian Gulf region and transports many of the products manufactured by the industries that operate in the area.

UASC offers a wide range of shipping related services through its wholly-owned subsidiaries and joint ventures including the United Arab Shipping Agencies Company (Emirates), Arab Transport Company (Aratrans), United Arab Agencies (Inc.), Middle East Container Repair Company, Arabian Chemical Carriers, United Arab Shipping Agencies Company (Saudi), United Arab Shipping Agencies Company (Kuwait), United Arab Shipping Agencies Company (NWE), United Arab Shipping Agencies Company (Asia), United Arab Chartering, Killick Martin Chartering , United Arab Shipping Marine Workshop, and National Containers Company.

UASC has a worldwide network of agents and joint ventures in addition to its own offices in Gulf countries, U.S., UK and Singapore. UASC also has representatives in Italy and Brazil. It currently operates a fleet of around 35 owned/chartered container and break-bulk vessels, and operates services from the USA, Europe, Mediterranean, the Far East, South America, South Africa and the Indian Subcontinent, to the Arabian Gulf Region and vice-versa. In addition, UASC operates a fleet of approximately 175,000 container TEUS.

© Press Release 2007