Three bidders vie for UACC

Bahri, the giant Saudi tanker owner, Milaha, the diverse Qatari maritime conglomerate and an unidentified UAE firm have all been linked with bids for United Arab Chemical Carriers (UACC), according to Reuters.

The sale of UACC is one of the hurdles still left in the ongoing merger between containerlines Hapag-Lloyd and United Arab Shipping Company (UASC). UASC is the largest shareholder in UACC and the chemical carrier arm needs to be sold before the container merger can proceed.

Splash understands the unidentified UAE owner is Gulf Navigation, a company that has undergone a rapid diversification in the past year.