UASC orders nine 13,100-TEU newbuildings from Samsung

7/5/2008 10:30:43 AM

UNITED Arab Shipping Company (UASC) has signed a contract for nine new 13,100-TEU containerships to be built by South Korea's Samsung Heavy Industries.   The contract constitutes the biggest containership newbuilding order ever placed by a GCC owned company, and is valued in excess of US$1.5 billion, a company statement said.   Chairman of the board of directors at UASC, Sheikh Ali Al Thani, said: "We are very happy to have chosen Samsung Heavy Industries to build these very large container ships for UASC."   The first of the nine sisters is scheduled for delivery in October of 2010, and the rest will follow in short order, with the last vessel being delivered in the fourth quarter of 2011.   The massive newbuildings are expected to be deployed on the Far East-Middle East-Europe route.   UASC currently operates a fleet of 41 container ships, with three more slated for delivery this year, and 10 more in 2009.   Asian Shipper

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