UASC Secures Funds for Vessel Acquisition

22 February 2010 (Last Updated February 22nd, 2010 18:30)

The United Arab Shipping Company (UASC) has secured a loan of $275m to buy three A-13 type container vessels. The 13,100teu ships will be built at Samsung Heavy Industries, South Korea. The UASC said the construction of the vessels would cost the company $1.5bn. The

The United Arab Shipping Company (UASC) has secured a loan of $275m to buy three A-13 type container vessels.

The 13,100teu ships will be built at Samsung Heavy Industries, South Korea.

The UASC said the construction of the vessels would cost the company $1.5bn.

The ships will be equipped with waste heat recovery technology to reduce carbon dioxide emissions, it said.

Qatar National Bank has served as the mandated lead arranger and coordinating bank in the loan facility.