Dubai: Ahmad Abdullah Al-Ghurair, director of Emirates Trading Agency, has been elected president of the UAE Ship Owners Association (UAESOA) at that body’s second AGM in Dubai.
‘The UAE ship owners discussed a number of topics in which they have a common interest. Of major concern to the ship owners were banks which were taking advantage of the very poor shipping markets by imposing unfair demands and increasing lending margins. The UAE ship owners agreed to share information about banks which impose unreasonable conditions on shipping loans and collectively take action against those banks. The UAE ship owners will also share information about charterers that default or do not live up to their obligations in charter parties.