UASC set to order 15 to 17 ships

6/14/2013 9:45:13 AM

Cash-rich United Arab Shipping Co (UASC) is set to order 15 to 17 container ships from Hyundai Heavy Industries in a US$2 billion deal that will include five Triple-Es, the world's largest container ships, two people familiar with the matter said, reported Dow Jones Newswires. "A letter of intent is on the table. Barring last-minute complications with the shipyard, the order will come by August," one of those people said. "First deliveries will begin in 2015." The Triple-Es, which can each carry 18,000 containers, will form the basis of UASC's new Europe to Asia service, jointly run with China Shipping Container Lines, which confirmed its own order for five Triple-Es last month, adding extra capacity on previously lucrative trade routes between Europe and Asia. The Arab company will also order five 14,000-container vessels with options for up to six more. An option to order a sixth Triple-E is also being considered, those people said. UASC and Hyundai Heavy Industries weren't immediately available for comment.  Cargonews Asia

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