United Arab Shipping Company places Dh8.8b orders for 17 ships with South Korea’s Hyundai Heavy Industries | GulfNews.com

United Arab Shipping Company places Dh8.8b orders for 17 ships with South Korea’s Hyundai Heavy Industries | GulfNews.com:

"United Arab Shipping Company (UASC), the Gulf’s largest container shipping line, has placed orders for 10 large container ships with an option for additional seven vessels valued at Dh8.8 billion ($2.4 billion) to South Korea’s Hyundai Heavy Industries.
The order, the largest in the GCC, involves the construction of five 18,000 twenty-feet-equivalent units (TEU) vessels and five 14,000 TEU vessels valued at around $1.3 billion (Dh4.8 billion). The order includes options for one 18,000 TEU and six 14,000 TEU vessels, with a potential value of $1.1 billion.
A contract to this effect was signed by Dr Abdul Aziz Al Ohaly, UASC Board Member and O.H. Kim, President and Chief Operating Officer of Hyundai Heavy Industries (HHI) on August 29 in Dubai. The ships are scheduled for delivery between 2014 and 2015."

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