ZIM Charters 13 Vessels from Navios Maritime Partners

Israeli container shipping company ZIM Integrated Shipping Services announced on Thursday it will charter 13 vessels from Greek-headquartered Navios Maritime Partners L.P.

ZIM said it will charter five secondhand 3,500-4,360 TEU vessels for up to 4.5 years and eight newbuild 5,300 TEU vessels for up to 5.3 years for total charter hire consideration of approximately $870 million.

The secondhand vessels are expected to be delivered in the first and second quarters of 2022, will be deployed across ZIM’s global network. The newbuilds are scheduled to be delivered during the third quarter of 2023 through the fourth quarter of 2024, and are expected to be deployed in trades between Asia and Africa.

Eli Glickman, ZIM President & CEO, stated: “With this latest chartering transaction, we continue to execute on our strategy of chartering-in highly versatile vessels to best serve our customers and meet significant and sustained demand across our global network. This transaction enhances our position as a global-niche operator, contributing immediate much needed tonnage in required sizes, as well as securing additional high-quality and cost-effective capacity to meet growing demand in the future. Looking ahead, we expect to continue to capitalize on opportunities to further strengthen our commercial prospects and support our operational agility, while maintaining our prudent capital allocation strategy to maximize shareholder value.”