ZIM Integrated Shipping Services (ZIM) has announced the signing of a new eight-year charter agreement with a shipping company that is affiliated with Kenon Holdings Ltd.
According to the agreement, ZIM Integrated Shipping Services will charter three 7,000 TEU liquefied natural gas (LNG) dual-fuel container vessels, in order to serve across ZIM’s various global-niche trades for total consideration of approximately US$ 400 million.
Charter agreement to construct vessels
The vessels will be constructed at South Korea-based shipyard, Hyundai Samho Heavy Industries
The vessels will be constructed at South Korea-based shipyard, Hyundai Samho Heavy Industries and are scheduled to be delivered during the first and second quarters of 2024.
Eli Glickman, the President and Chief Executive Officer (CEO) at ZIM Integrated Shipping Services, 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.”
He adds, “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.”
‘green’ LNG-fuelled capacity to reduce carbon emissions
Eli Glickman further said, “Importantly, adding ‘green’ LNG-fuelled capacity further strengthens ZIM Integrated Shipping Services’ 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."
He adds, “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.”
