World News
Six More Eco-Vessels Join UASC Order
United Arab Shipping Company (UASC) said it has exercised options for six more 14,000 twenty-foot equivalent unit (TEU) vessels from Hyundai Heavy Industries (HHI), bringing its total order to 16 ships.
The full order with the South Korean shipbuilder, involving vessels that UASC says are "amongst the largest, most technologically advanced, and most environmentally friendly container vessels ever built," is worth more than $2 billion.
"The exercising of these vessel purchase options is an integral part of the newbuilding contract that UASC signed in August 2013," said Salem Ali Al Zaabi, chairman of the UASC board of directors.
"This vessel order positions UASC to deliver on its long-term growth objectives and the unique design features of the vessels ensure that UASC will set new industry benchmarks for fuel economy and environmental performance."
Along with the newly exercised options, the order, includes five 18,000 TEU vessels and five 14,000 TEU vessels, with deliveries starting in late 2014.
The ships are designed for quick conversion to operate on liquefied natural gas (LNG) bunkers when the infrastructure for that fuel becomes available.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 516.50 | 3.00 | 692.50 | 3.50 |
| Rotterdam | 506.00 | 1.50 | 713.50 | 14.00 |
| Houston | 501.50 | 0.00 | 732.50 | 10.00 |
| Fujairah | 511.00 | 3.00 | 750.00 | 2.50 |
| Global 20 Ports Average | 550.00 | 0.50 | 775.00 | 1.50 |
| Global 4 Ports Average | 508.50 | 2.00 | 722.00 | 1.50 |
| Global Average Bunker Price | 588.00 | 0.00 | 818.50 | 2.50 |
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