Qatar has taken a majority stake in the United Arab Shipping Company (UASC).
The state of Qatar has acquired a 51% holding in the shipowner after contributing to a series of capital increases, say company sources.
The increases were linked to UASC’s containership newbuilding plans which include 11 ships of 14,000-teu and six of 18,000-teu.
UASC was established in 1976 by the states of Kuwait, United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain and Iraq each holding equal stakes.
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