Newbuildings for USD 5.5 billion to the Middle East

The Middle Eastern carriers have newbuildings for USD 5.5 billion in the pipeline, corresponding to 87 ships.

Carriers in the Middle East have bet big on newbuilding investments, and at this time the pipeline holds orders for a total USD 5.5 billion. This figure correspond to a total of 87 ships ordered by the Middle Eastern shipowners, according to media Arabian Supply Chain.

The ships in the orderbook are worth an average USD 6.3 million, but the vessel orders are not distributed in this way. The large eco-design ships ordered by United Arab Shipping Company, UASC, cost around USD 160 million each, and UASC also holds the title as the region's biggest investor, with investments totaling USD 2.3 billion.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

HMM doubled revenue in Q1

South Korean container line HMM follows the trend of European competitors, which have already presented their first-quarter financials. Revenue doubled in a significant surge.

Further reading

Related articles

Latest news

See all jobs