Abu Dhabi Forms Joint Fast Containership Line

Abu Dhabi Investment Company has established Abu Dhabi Container Lines Limited (ADCL) with Norasia Shipping Limited, Switzerland. The new venture will acquire and operate a fleet of 10 fast containership vessels servicing Asian ports and the Pacific Northwest of the U.S. and Canada. The 10 technologically driven vessels, seven of which have already been delivered, move at speeds of 25 knots. The remaining three ships will be sent off between January and July 2000. Commercial and technical operations of the fleet are contracted with subsidiaries of Norasia for the vessels, which will provide weekly services from Asian ports to the Pacific Northwest and the Pacific Southwest.