United Arab Shipping Company (UASC), the international container transportation provider, has announced the incorporation of a joint venture company together with its long standing agent in Asia, Jardine Shipping Services.
United Arab Shipping Company (UASC), the international container transportation provider, has announced the incorporation of a joint venture company together with its long standing agent in Asia, Jardine Shipping Services. United Arab Shipping Agency Company (UASAC Asia) will assume agency duties in Taiwan, Hong Kong, Thailand, Malaysia and Singapore through wholly owned entities, and in China, Vietnam and the Philippines through sub-agents, as of January 2007.
Ken Bloch Soerensen, UASC’s president and CEO, welcomed the development. “We’ve been working with our friends at Jardine Shipping Services towards this end for some time,” he commented. “We are pleased to continue our more than 35 year long relationship, providing UASC with a solid platform on which to build our future growth in major markets in the Asia Pacific region.”
Terence Sit, president of Jardine Shipping Services, commented, “this is a very positive development in our relationship with UASC, our long time business partner. We are delighted to be able to explore the opportunities of growth together.”
The joint venture company, in which UASC has a majority shareholding, will maintain the existing office locations in all countries, and will continue to provide the full range of UASC’s service products.
“For UASC’s customers it will be a seamless transition, as the same people will be serving our customers needs. Going forward we will be able to leverage on the strength of both UASC and Jardine Shipping,” said Lars Christiansen, general manager of UASAC (Asia).