Read Authentic Ratings for the Uacc-Manama

In the latest developments in the maritime industry, NAVIG 8 has successfully secured a new charter agreement. The deal, which involves trading at a rate of $15,500, spans a period of three years. This partnership highlights NAVIG 8's continued commitment to expanding its operational capabilities while aligning with market demands.

In a significant move for the maritime sector, United Arab Chemical Carriers (UACC), based in Dubai, has finalized the purchase of two chemical tankers—Bunga Balsam and Bunga Bakalawi—for a total of $70 million. Each vessel, with specifications of 45,612 deadweight tonnage (dwt) for Bunga Balsam and 45,337 dwt for Bunga Bakalawi, was acquired at $35 million apiece. Both tankers were constructed in 2010 by the reputable SLS Shipbuilding in South Korea and are just four years old. This acquisition is set to complement UACC’s expanding fleet — which now totals 17 vessels, primarily comprising MR (Medium Range) tankers. These two tankers follow an earlier addition of two vessels earlier this January, showcasing UACC's commitment to growth in the competitive tanker market. UACC's strategic enhancements come under the guidance of its new Chief Executive Officer, Per Wistoft, who transitioned to the company earlier this year from Brightoil Shipping. As UACC continues to bolster its operational capacity, it remains focused on its mission to deliver excellence in chemical transportation on the high seas.