Middle East

UASC completes newbuild plan with 18,000 teu option

Dubai: United Arab Shipping Company (UASC) has signed for the final option of an additional 18,000 teu vessel bringing the total order to 17 ships including eleven 14,000 teu vessels and six 18,000 teu vessels. The order has been placed with Hyundai Heavy Industries (HHI) in Korea.

UASC chairman Salem Ali Al Zaabi said, “With the exercising of this final purchase option for one 18,000 teu vessel, UASC completes its current newbuilding order in full. Today thus marks another important milestone in UASC’s transformation and growth story. Among our other assets, these vessels and UASC’s enhanced partnership agreements enable the company to improve its competitiveness in the key trade lane between Asia and Europe where the 18,000 teu vessels will be deployed.”  [10/03/14]

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