Independent journal on economy and transport policy
14:37 GMT+1
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Economic account and patrimonial situation of the UASC provoke alarm in sight of the fusion with Hapag-Lloyd
the Middle Eastern company has a indebtedness financial of beyond four billions of dollars and a net worth of 1,9 billion dollars
August 24, 2016
In sight of the assembly of own shareholders that will hold friday, in the course of which the project of fusion with the United Arab Shipping Company (UASC will be voted) ( on 18 July 2016), the shipowning company German Hapag-Lloyd has returned notes additional information on such project that have provoked alarm between several observatories relatively to the economic account and the patrimonial situation of the Middle Eastern shipowning society.
The document announces that the UASC has closed the fiscal year anniversary 2015 with a net loss pairs to -384,3 million dollars on revenues pairs to 3,32 billion dollars, while Hapag-Lloyd clearly has archived item the same exercise anniversary with a profit of 126,4 million dollars on revenues pairs to 9,81 billion dollars ( on 23 March 2016). UASC has recorded EBITDA and EBIT both of sign negative and pairs respective to -68,2 million and -298,7 million dollars, against results both of positive sign for Hapag-Lloyd and pairs to 922,4 million and 406,7 million dollars.
The patrimonial situation of the financial UASC on 30 June shows a indebtedness pairs to 4,06 billion dollars and a net worth that it piles to 1,89 billion dollars, while for financial Hapag-Lloyd turns out a indebtedness pairs to 4,26 billion dollars and a net worth pairs to 5,28 billion dollars. Together financial Hapag-Lloyd and UASC anticipate on June 30, 2016 a indebtedness pairs to 8,33 billion dollars and a net worth pairs to 7,17 billion dollars.
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In sight of the assembly of own shareholders that will hold friday, in the course of which the project of fusion with the United Arab Shipping Company (UASC will be voted) 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
