UASC orders 8 ships from Hyundai

The United Arab Shipping Company (UASC) has signed a contract with South Korea’s Hyundai Heavy Industries Company Limited (HHI) to build eight 6,500 TEU container ships at a cost of $835 million. UASC will start taking delivery of the 25. knot ships from March 2008 and the delivery will be completed by the end of that year.