UACC Purchases Two Product Tankers (UAE)

Dubai – headquartered shipping company United Arab Chemical Carriers has bought two product tankers for an estimated amount of $57m, Arabian Supply Chain (ASC) reports.

Illustration of UACC Masafi Majuro

The 47,400-dwt Ocean Leo is worth $28m and the 47,300-dwt Zapphire is worth $29m. Both of them were built in 2010 at Onomichi Shipyard, Japan.

Including this purchase, the UACC’s fleet currently has 17 tankers, worth approximately $440m .

UACC is strategically positioned to pursuit the Middle East Gulf and the Indian West Coast, two of the largest and fastest growing refined oil export markets.

In 2013, the company bought one vessel in April, and sold a pair of newbuild tankers, two months later.

World Maritime News Staff, January 30, 2014

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