UASC cements its largest ever newbuilding order by exercising options

United Arab Shipping Company (UASC) recently announced that options for six additional 14,000TEU vessels have been exercised 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 US$ 2 billion including all options. The order features vessels that will be amongst the largest, most technologically advanced, and most environmentally friendly container vessels ever built.
UASC hosted a signing ceremony in Dubai where the newbuilding contract was signed by His Excellency Salem Ali Al Zaabi, Chairman of the UASC Board of Directors, and by Mr. Y. J. Ji of HHI. The ceremony was also attended by UASC President & CEO, Mr. Jorn Hinge, and other members of the senior management teams of UASC and HHI.

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