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UASC key figures unveil 'dismal performance'

CHRW: NEW HIGHS AND PAYOUT CONFIRMEDBA: GREEN LIGHTMAERSK: ONE UPGRADE AFTER ANOTHER FDX: STEADY YIELDCAT: DOWNSIDE RISKMAERSK: SOARINGMAERSK: CONGESTION RISK MAERSK: 'ACCELERATION OF GLOBALISATION' MAERSK: GEMINI NETWORK FLEXIBILITYMAERSK: SPOT RATES DIRECTION MAERSK: 'MORE DIVERSIFIED PORTFOLIO IN LOGISTICS NEEDED' MMAERSK: CASH DEPLOYMENTMAERSK: SPOT RATES MAERSK: REBALANCING OF GLOBAL TRADE MAERSK: UNIT COST BENEFITS QUESTIONED MAERSK: UNIT COSTS MAERSK: GEMINI-RELATED SAVINGSMAERSK: QUESTION TIME

CHRW: NEW HIGHS AND PAYOUT CONFIRMEDBA: GREEN LIGHTMAERSK: ONE UPGRADE AFTER ANOTHER FDX: STEADY YIELDCAT: DOWNSIDE RISKMAERSK: SOARINGMAERSK: CONGESTION RISK MAERSK: 'ACCELERATION OF GLOBALISATION' MAERSK: GEMINI NETWORK FLEXIBILITYMAERSK: SPOT RATES DIRECTION MAERSK: 'MORE DIVERSIFIED PORTFOLIO IN LOGISTICS NEEDED' MMAERSK: CASH DEPLOYMENTMAERSK: SPOT RATES MAERSK: REBALANCING OF GLOBAL TRADE MAERSK: UNIT COST BENEFITS QUESTIONED MAERSK: UNIT COSTS MAERSK: GEMINI-RELATED SAVINGSMAERSK: QUESTION TIME

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United Arab Shipping Company (UASC), which is close to merging with Hapag-Lloyd, revealed enormous deficits and a massive debt in its latest key financial figures, says Alphaliner.

The first-time revealed UASC financial figures uncover more than $4bn of debt incurred during a major fleet expansion programme and a net loss of $384m last year, were described by analyst Alphaliner as “UASC’s dismal financial performance laid bare”.

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  • Steve McCormack

    August 26, 2016 at 2:43 pm

    No problem at all. UASC, with the backing of the Gulf-governments will never sink. They will pay the 4bn USD from the petty-cash-box. That will be the last carrier who is getting into trouble. Jorn Hinge did a marvellous job by leading UASC for so long.

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