South
Korea based shipbuilder Hyundai Heavy Industries announced on August 30, that it won a $1.4 billion order to build five 18,000 TEU class and five 14,000 TEU class container ships from the United Arab Shipping Company (UASC) on August 29.
The 18,000 TEU class boxships and 14,000 TEU class boxships are scheduled to be delivered from late 2014 and the first half of 2015 respectively. The contract also includes options exercisable by UASC to order an additional 18,000 TEU class containership and six additional 14,000 TEU class boxships.