Hyundai Heavy Industries of Korea is likely to win a large order for construction of up to 17 units of the very large containership from the Middle East shipowner UASC.
According to industry sources, both sides have contracted a letter of intent (LOI) for five 18,000 teu ultra-large containerships with one option and five 14,000 teu plus six options. A market player said, “The Korean shipbuilding conglomerate could win this deal thanks to its ability for early delivery.”
For this large newbuilding bid, various yards of China and Japan participated in the fierce competition along with Korean majors, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Hanjin Heavy Industries & Construction.
Newbuilding prices are not disclosed yet but estimated to come to around $140m apiece for 18,000 teu and about $120m for a 14,000 teu unit.
Meanwhile, in May, Hyundai had been awarded five 18,000 teu ultra-large containerships from China Shipping Container Line (CSCL) for delivery in early 2015 with a price tag of around $140m each.