New build order

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 new building order. The order is for 10 containerships, along with option agreements for seven further vessels, with Hyundai Heavy Industries in Korea. The construction of the five 18,000 20-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.