ZIM announces long-term chartering agreements for 10 LNG dual-fueled vessels
- Continued strategic investment in core LNG capacity enhances ZIM's commercial agility and supports long-term growth strategy
- Vessels are expected to be delivered in 2027–2028
ZIM Integrated Shipping Services Ltd. has signed new agreements for the long-term charter of ten 11,500-TEU liquefied natural gas (LNG) dual-fuel container vessels, with total charter hire consideration of approximately $2.3 B to serve across ZIM's various global trades.
Seven of the vessels will be chartered to ZIM by Containers Ventures Holdings Inc., an affiliate of the TMS Group, and three will be chartered to ZIM by a shipping company that is affiliated with Kenon Holdings Ltd., which was ZIM's largest shareholder until the end of 2024. The vessels will be constructed at Zhoushan Changhong Shipyard in China, with delivery expected between 2027 and 2028.
Eli Glickman, ZIM President & CEO, stated: "After having received all 46 newbuilds we contracted in 2021 and 2022, which significantly improved the efficiency of our operated capacity, we are pleased to further advance our fleet strategy by securing long-term charters for these 11,500-TEU newbuild LNG dual-fuel containerships. These agreements ensure access to an important vessel segment and further strengthen our core LNG fleet, which is a critical commercial differentiator. Importantly, this versatile capacity is ideally suited for ZIM's various global trades, enhancing our commercial agility and growth potential."
Mr. Glickman added: "Expanding our LNG fleet supports ZIM's decarbonization objectives and solidifies our position as an industry leader in carbon intensity reduction. Operating LNG capacity has proved commercially advantageous for ZIM and we anticipate increased demand for environmentally friendly shipping options, making access to LNG capacity even more beneficial in the future."
Mr. Glickman concluded, "The addition of these ten LNG dual-fuel vessels will help keep our modernized fleet competitive and support profitable growth over the long term, benefiting our shareholders."
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