Ince & Co advises UASC on 10-containership order with Hyundai Heavy Industries
Ince & Co Middle East LLP (Dubai branch) has advised United Arab Shipping Company (UASC) in the preparation and negotiation of bespoke shipbuilding contracts and related documentation in UASC’s largest ever newbuilding order.
The order is for 10 containerships, along with option agreements for seven further vessels, with Hyundai Heavy Industries in Korea.
The construction of the five 18.000 twenty-foot-equivalent units (TEU) (with one option) and 14,000 TEU (with six options) will be among the largest and most environmentally friendly containerships ever built. The first scheduled delivery date is at the end of 2014.
Upon delivery of the above vessels, UASC will become one of the largest container line companies in the world.
Ince & Co’s shipping partner Peter Measures and associate Pavlo Samothrakis led the team, which also consisted of Amaka Edomobi and Anna Zeitlin.
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Swallowfalls v Monaco Yachting provides further support for the construction of contracts in the manner most consistent with ‘commercial common sense’.
Instances of vessels making contact with and damaging a berth are fairly common. Disputed claims on liability are much rarer.