United Arab Chemical Carriers Limited (“UACC”) was incorporated in Dubai, U.A.E, in August 2007 as a company limited by shares under the aegis of the Dubai International Financial Centre (DIFC). The Company is engaged in the ocean transportation of liquid chemicals and refined petroleum products. United Arab Shipping Co (“UASC”) originally promoted the Company, and while UASC has a 39.4% equity stake in UACC, the remaining shareholders are drawn from the GCC which include inter alia, Gulf International Bank B.S.C, Bahrain, Yusuf Bin Ahmed Kanoo Holding (W.L.L), Qatar Navigation (QSC), Ministry of Finance & Industry, Boubyan Petrochemical Co. (K.S.C), as well as 11 other prominent corporations and individuals from the region.
The Company currently operates eight ships averaging 5 years of age, and has 10 sophisticated chemical new-buildings on order. The fleet encompasses:
- 6 (six) Medium Range (“MR”) Product Tankers. All sister-vessels built at Shin Kurushima in Japan between 2003 and 2005.
- 2 (two) Panamax Long Range 1 (“LR1”) Product Tankers. Sister-vessels built at New Times in China in 2008 and 2009 respectively.
- 10 (ten) MR Chemical Tanker new-buildings from SLS, South Korea, delivering 2011 and 2012.
UACC will continue to focus on modern tankers that provide safe world-wide marine transportation services for national, major and independent oil and chemical companies and refiners in a good mix of long, medium and short-term charters.
With the ten new-buildings on order, the Company will have sufficient capacity to be an important operator for the big chemical export producers in the region. The ships will be built with a special Marine Line coating technology which will enable these ships to trade in both the chemical and product markets with very high cargo flexibility.
UACC is strategically well located in a region which is witnessing strong economic growth and which is fast emerging as the largest exporting hub for petrochemicals and petroleum products. This provides unique opportunities to UACC in terms of employment of its vessels. The company's strategy envisages leveraging its regional base and shareholders' long-standing relationships with the regional governments and petrochemical manufacturers/exporters to establish a hub in the Middle East, in line with the vision of the Company: “UACC aspires to be a world class shipping company of choice, linking the Middle East to the rest of the World”.