Hyundai Heavy Industries of Korea has been awarded a contract from China Shipping Container Lines (CSCL) to construct five 18,000 teu ultra large containerships which are due for delivery early 2015.
Newbuilding price is reportedly costing around $140m each. Large Korean shipbuilders including Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries and etc. and Chinese shipyards are said to have participated in the bid for the newbuilding project, however Hyundai was chosen being the most outstanding in ship value and delivery condition.
Hyundai has been pushing forward winning orders for large containerships for instance, it had already inked a contract with Seaspan for construction of five 14,000 teu very large containerships costing $120m each.
Meanwhile, proceeding with service cooperation for 18,000 teu with CSCL, the Middle East-based shipping company United Arab Shipping Company (UASC) is said to be in talks with shipyards in Korea, China and Japan for a deal to construct five 18,000 teu with other five 14,000 teu newbuildings.  
UASC is expected to choose preferred bidders within May and enter negotiations for ship prices, classifications and so on.