United Arab Shipping Company signed a $140 million loan facility with Gulf Bank, Kuwait, the latest financing to support the expansion of its container fleet and route network, Journal of Commerce reports.
The loan will also be used to equip with waste heat recovery systems UASC's future fleet of nine newbuildings with a capacity of 13,100 20-foot equivalent units.
The pan-Arab ocean carrier finalized a $302 million loan in February to finance the acquisition of the remaining three of the A13 vessels which Korea's Samsung Heavy Industries is building.
Kuwait-based UASC closed on a $1.1 billion loan in 2010 to pay for six of the A13 ships, the first of which was delivered earlier this month.
The loan will also be used to equip with waste heat recovery systems UASC's future fleet of nine newbuildings with a capacity of 13,100 20-foot equivalent units.
The pan-Arab ocean carrier finalized a $302 million loan in February to finance the acquisition of the remaining three of the A13 vessels which Korea's Samsung Heavy Industries is building.
Kuwait-based UASC closed on a $1.1 billion loan in 2010 to pay for six of the A13 ships, the first of which was delivered earlier this month.