June 30, 2008
UASC places $1.51 billion box ship order at Samsung
United Arab Shipping Company (UASC) has awarded Samsung Heavy Industries an order worth $1.51 billion for nine 13,100 TEU containerships.
The first of the nine sisters will be delivered to UASC in October of 2010, and the rest will follow sequentially, with the last vessel being delivered in the 4th Quarter of 2011.
UASC, which is owned by the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Iraq, currently operates 41 container vessels with three more scheduled for delivery this year and another 10 in 2009.
The contract is the biggest containership newbuilding order ever placed by a GCC owned company.