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UASC adds to container vessel order

LNG Industry,

United Arab Shipping Company (UASC) has announced options for an additional six 14 000 TEU vessels, bringing the total order of LNG-ready container vessels 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 with dual-fuel capabilities 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. UASC CEO, Mr. Jorn Hinge, and other members of UASC and HHI management teams, also attended the ceremony.

His Excellency Mr. Salem Ali Al Zaabi, commented: “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.”

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

Adapted from press release by Katie Woodward

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