United Arab Emirates: Ince & Co Advises United Arab Shipping Company On A Ten Containership Order With Hyundai Heavy Industries
Last Updated: 4 September 2013

The largest shipbuilding order to date for United Arab Shipping Company and the Gulf Cooperation Council

Ince & Co Middle East LLP (Dubai Branch) recently advised United Arab Shipping Company (UASC) in the preparation and negotiation of bespoke shipbuilding contracts and related documentation in UASC's largest ever newbuilding order. The order is for ten containerships, along with option agreements for seven further vessels, with Hyundai Heavy Industries in Korea.

The construction of the five 18,000 twenty-foot-equivalent units (TEU) (with one option) and 14,000 TEU (with six options) will be amongst the largest and most environmentally friendly containerships ever built. The first scheduled delivery date is at the end of 2014.

Peter Measures comments: "We were delighted to have been able to assist UASC successfully with this order. The order, historically the largest for UASC, constitutes a major commitment to the container trade by UASC and its shareholder Governments. The advanced and innovative technology in the vessels' design needed to be reflected in the contractual documentation, which consequently contained some entirely original concepts and brought with it some unique challenges."

United Arab Shipping Company (UASC) is a global shipping company based in the Middle East. Founded in 1976, UASC is present in more than 75 countries around the world. The company is a major container shipping player in the Middle East region and adjacent markets, covering over 200 ports and destinations worldwide. UASC offers containerized, conventional and temperature controlled cargo transportation, and value added services to a diversified global client base, covering the Middle East, Europe, Mediterranean, Indian Sub-continent, Far East, Australia, West Africa and the Americas.

Upon delivery of the above vessels, UASC will become one of the largest container line companies in the world.

Ince & Co's shipping partner Peter Measures, together with associate Pavlo Samothrakis, led the team that also consisted of Amaka Edomobi and Anna Zeitlin.

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