ZIM Charters Three 7,000 TEU Containerships

Israeli shipping company ZIM on Tuesday announced a new eight-year charter agreement for a trio of 7,000 TEU liquefied natural gas (LNG) dual-fuel containerships to serve global-niche trades.

The eight-year deal with a shipping company affiliate of Kenon Holdings is valued at approximately $400 million.

The vessels will be constructed at South Korean shipyard Hyundai Samho Heavy Industries and are scheduled to be delivered during the first and second quarters of 2024.

Eli Glickman, ZIM president and CEO, said, "We are pleased to enter into another charter agreement to secure high quality tonnage, with a focus on adding extremely versatile vessels that could serve us on multiple trades. As we work to secure our core operating fleet to meet growing market demand, we remain committed to maintaining significant fleet flexibility to execute our proven global-niche strategy and best serve our customers. Importantly, adding 'green' LNG-fueled capacity further strengthens ZIM's position at the forefront of reducing carbon intensity among the global liners and will enable us to assist our customers in reducing their carbon footprint."

Glickman added: "This transaction further demonstrates our prudent capital allocation strategy, supporting our efforts to strengthen our commercial prospects, deliver industry leading profitability, and create enduring value for shareholders."