Option Exercise Further Strengthens ZIM's Operating Fleet and Supports ZIM's Growth Strategy and ESG Values
Vessel Deliveries Expected During the Third and Fourth Quarters of 2024
Haifa, Israel - Sept. 1, 2021
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), announced today the exercise of its option to long-term charter additional five 7,000 TEU liquefied natural gas (LNG) dual-fuel container vessels from Seaspan Corporation, pursuant to a transaction previously announced by ZIM and Seaspan in July 2021.
Under this previously announced transaction, ZIM already entered into long term charter agreements for ten 7,000 TEU LNG vessels which are due to be delivered starting from the fourth quarter of 2023 and into 2024, so that the total vessels to be chartered under this transaction after the option exercise is fifteen (15). The value of this option for ZIM is in excess of $750 million.
Eli Glickman, ZIM President & CEO, stated: "With this option exercise, we are securing ZIM's core fleet needed to serve our operations and meet our customers' growing needs, while continuing to maintain our operational agility. Furthermore, this transaction demonstrates our deep commitment to the environment and to reducing our carbon footprint. We continue to invest the resources necessary to be an industry leader and to prepare ourselves for the cleaner future of our industry."
ZIM is a global, asset-light container liner shipping company with leadership positions in the markets where it operates.
Founded in Israel in 1945, ZIM is one of the oldest shipping liners, with over 76 years of experience, providing customers with innovative seaborne transportation and logistics services with a reputation for industry leading transit times, schedule reliability and service excellence.
ZIM Integrated Shipping Services press release