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UASC exercises option for sixth 18,000 teu container ship at HHI

UASC exercises option for sixth 18,000 teu container ship at HHI
United Arab Shipping Co (UASC) has exercised an option for a sixth, and final, 18,000 teu boxship at Hyundai Heavy Industries (HHI).

With the exercising of the option UASC has a total of 17 vessels on order at HHI comprising six 18,000 teu ships and eleven 14,000 teu vessels, at total order value exceeding $2bn.

The newbuilding contract was signed in Dubai by HE Salem Ali Al Zaabi, Chairman of the UASC board of directors, and by Y J Ji of HHI.

”With deliveries of the 17 vessels scheduled to begin in late 2014, the Company is now fully engaged in implementing its growth strategy,” the chairman of UASC said. “In an environment where fuel oil remains the largest cost driver in the industry, our cutting-edge vessel designs have been developed with a clear focus on improving cost efficiency and enhancing environmental friendliness.”

All the ships are built to an “LNG ready” design classed by DNV GL for conversion to LNG for fuel, and UASC has plans for LNG bunkering facility in the Middle East to serve the Asia – Europe trade.