Gulf shipping companies place orders worth $2bn

07 July 2008
United Arab Shipping Company (UASC) has unveiled a $1.5bn deal for new container ships, while the Al-Jaber Group has placed a $500m order for eight new bulk carriers.

Kuwait’s UASC will take on nine new container vessels each with a capacity of 13,100 20-foot equivalent units (TEUs). The ships will be built by South Korea’s Samsung Heavy Industries and will be delivered from October 2010. UASC currently has a fleet of 44 ships.

Abu Dhabi-based Al-Jaber group has placed its order with Jiangsu Hangtong Ship Heavy Industry of China. The first vessel is to be delivered in October 2010, with a new ship arriving every four months after that.

The new arrivals will raise Al-Jaber’s deadweight capacity to 651,800 tonnes. The company currently has 38 ships including oil tankers, bitumen carriers and landing craft. The ships will be rented on a charter basis to global shipping companies.

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