October 16, 2008

UASC starts construction of 6 high speed containership

United Arab Shipping Company has announced the commencement of construction of its 6 high speed containership called MV Jazan as part of an 8 containership order contracted with a reputed Korean shipbuilder and work on the other five A7 ships was progressing on schedule on timely delivery.

UASC had signed contract to build forty eight 919 TEU containership at a total cost of about USD 850 million. These modern ships, which will be fully compliant with the latest MARPOL regulations regarding pollution, will have speed exceeding 25 knots.

MV Jazan will fly the Saudi Arabia flag and will be delivered in July 2008. All 8 ships under this contract will be completed and delivered in 2008. Above 8 newbuildings will help UASC to cope with the expanding trades and customer demands. UASC's existing fleet consists of 35 owned and chartered vessels and its container box fleet has touched the 200,000 TEU mark.

UASC was established in 1976 with its head office in the State of Kuwait. The company is considered as the national carrier for the Arab Gulf States. UASC works to promote and strengthen economic and trade activities in the region. UASC performs its strategic role to serve the Arabian Gulf in particular, by maintaining uninterrupted shipping services and stable freight rate in the container trades to the region. The company has a worldwide network of agents besides its own offices the Arabian Gulf States, USA, UK and Singapore, amongst others. It also has ownership in many subsidiary companies which are engaged in the shipping related activities.

UASC operates on shipping routes from the North America, Europe, the Mediterranean, Far East, South American and Africa to the Arabian Gulf, Red Sea and Indian sub continent. It also operates services in the major container trades between Europe and Mediterranean and Asia.