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Hyundai Heavy obtains US$1.4 billion order for 10 container ships in the Middle East

On August 30, Hyundai signed a US$1.4 billion contract (including construction of 5 Hyundai Samho Heavy Industries ships) for a total of 10 container ships – five 18,000 TEU container ships and five 14,000 TEU container ships – with the United Arab Shipping Company (UASC) in Dubai, United Arab Emirates.

In this contract, an option of a possible order of 7 additional ships — one 18,000 TEU ship and six 14,000 TEU ships — has been added. If this optional order is also successfully obtained, the final contract amount will be around US$2 billion.

In January of this year, Hyundai obtained an order for five 14,000 TEU container ships from Canadian company Seaspan. In May, China gave the world’s largest order of five 18,400 TEU container ships.

More at Business Korea

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