ZIM has announced a new eight-year charter agreement with a shipping company that is affiliated with Kenon Holdings Ltd, which is ZIM's largest shareholder holding approximately 26% of the carrier's issued share capital.
The Israeli container line will charter three 7,000 TEU liquefied natural gas (LNG) dual-fuel container vessels for total consideration of approximately US$400 million.
"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," said Eli Glickman, ZIM president & CEO.
The post-panamax boxships will be constructed at Korean-based shipyard, Hyundai Samho Heavy Industries, and are scheduled to be delivered during the first and second quarters of 2024.
"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," pointed out Glickman, who noted that this transaction demonstrates the company's prudent capital allocation strategy.