The Board of Directors of United Arab Shipping Company (UASC) announced that Mr. Ken Bloch Soerensen is leaving after successfully completing his four year contract with the company ended on May 31, 2009.

Mr. Soerensen had joined UASC back in June 2005 to assume the responsibility of carrying forward the Board’s growth plans for UASC, sustaining the company’s role as a regional market leader and developing adequate strategies towards establishing a larger and stronger presence for UASC on the global container markets.

The Board of Directors of UASC thanked Mr. Soerensen for his significant leadership and contributions over the past four years, particularly in creating and implementing the company’s strategic plan ‘Towards 2010’ which considerably grew the company’s container revenues, as well as laying the foundation for the ‘Towards 2012’ plans.

Mr. Soerensen said, ‘I believe that UASC today has the necessary solid foundation and is positioned well to meet its strategic goals and to overcome the more immediate challenges of the current market situation.” He concluded: ‘I would like to thank the Board, my colleagues in the management, and all the people of UASC and wish them much success in the future.”

The Board would announce its decision on Mr. Sorensen’s successor after its Board Meeting.