UACC’s fully controlled subsidiary Arabian Chemical Carriers Company (“ACCC”)
sells M/T “Al Farabi”
After 24 years in service for the Group (primarily through the previous UASC/NSCSA joint venture), UACC’s fully controlled subsidiary, ACCC, have sold and delivered the M/T “Al Farabi” (IMO II/III Chemical carrier, 43,500t dwt, built Daewoo South Korea 1986) for demolition. The ship has been a solid and reliable performer throughout many years, during which it has transported several million tons of chemical products for Middle Eastern producers. It is therefore with mixed emotions that we are selling this ship for demolition, however, UACC have strategically decided to focus on operating a modern and flexible fleet, and the sale is therefore in line with our business plan to phase the M/T “Al Farabi” out, and thereby bring the average age of our fleet down to 5 (five) years.