Subscribe | Advertise | Contact Us | About Us |    

Bookmark and Share

UASC's New Vessel Order Tops $2Bn

United Arab Shipping Company (UASC) has exercised options for six additional 14,000-TEU vessels bringing the total order to 16 ships. The order has been placed with Hyundai Heavy Industries (HHI) in Korea and is the largest in UASC's history, worth over $2bn, including all options. The order features vessels that will be amongst the largest, most technologically advanced, and most environmentally friendly container vessels ever built.

"The exercising of these vessel purchase options is an integral part of the newbuilding contract that UASC signed in August 2013. This vessel order positions UASC to deliver on its long-term growth objectives and the unique design features of the vessels ensure that UASC will set new industry benchmarks for fuel economy and environmental performance," said Salem Ali Al Zaabi, chairman of the UASC board of directors.

The 14,000-TEU and 18,000-TEU newbuildings included in the overall order are scheduled for delivery from late 2014 and from the first half of 2015, respectively.

Read Full Article

SCB TRANSLATOR (Over 60 languages)
Sponsored by: