United Arab Shipping Company (UASC) has exercised options for six additional 14,000 TEU vessels, bringing the total order to 16 ships, the largest ever newbuilding order for the company.
The order has been placed with Hyundai Heavy Industries (HHI) in Korea and is the largest in UASC’s history, worth over USD 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 has confirmed with NGV Global that the additional vessels will also be prepared for easy retrofitting for using Liquefied Natural Gas (LNG) fuel in the future, when the related infrastructure is in place.
At the signing ceremony, His Excellency Mr. Salem Ali Al Zaabi, Chairman of the UASC Board of Directors remarked, “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 overall order are scheduled for delivery from late 2014 and from the first half of 2015, respectively.