Korea's Hyundai Group has won what is reported to be the largest single shipbuilding contract in history to build nine vessels for the United Arab Shipping Company. Under the USD 400-million contract, Hyundai will construct nine containerships of 35,500 dwt each and 14,000 steel containers.
The United Arab Shipping Company, the largest shipping company in the Middle East, is jointly operated by Kuwait, Bahrain, Iraq, Saudi Arabia, Qatar and the United Arab Emirates.
The vessels will be built at the Hyundai Ulsan Shipyard for delivery January 1983 through October 1983. The container boxes, consisting of 20-foot and 40-foot steel vans are to be fabricated by Hyundai Precision and Industry Co. Delivery is scheduled for completion in June 1983.
Main propulsion for each vessel will be provided by a Hyundai-built engine developing 18,400 bhp and giving a speed of 17.8 knots.
Since 1974, Hyundai Heavy Industries has constructed four 19,700-dwt containerships and twenty-four 23,000-dwt multipurpose cargo carriers for the United Arab Shipping Company.