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            october 15, 2019

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UASC seals its biggest deal for six 14,000-TEUers by working options


The United Arab Shipping Company (UASC) has announced that options for six additional 14,000-TEU vessels have been exercised, bringing its total order to 16 ships.
The order has been placed with Hyundai Heavy Industries (HHI) in Korea, which is the largest in UASC's history, worth more than US$2 billion and includes all options.
The order features vessels that will be among the largest, most technologically advanced and environmentally friendly ever built.
UASC held a ceremony in Dubai where the newbuilding contract was signed by UASC chairman Salem Ali Al Zaabi and YJ Ji of HHI.
Said His Excellency Salem Ali Al Zaabi: "The exercising of these vessel purchase options is 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 that ensure UASC will set new industry benchmarks for fuel economy and environmental performance."
The 14,000-TEU and 18,0000-TEU newbuildings included in the overall order are scheduled for delivery from late 2014 and from the first half of 2015, according to Shipping Gazette.

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