Zim Integrated Shipping Services and Seaspan Corporation, a wholly owned subsidiary of Atlas Corp, have confirmed a strategic agreement for the long-charter of 10 x 15,000 TEU liquefied natural gas (LNG) dual-fuel container vessels.

The new deal will provide capacity for Zim’s involvement in the Asia-US East Coast trade. According to ZIM, the company’s existing share of the Asia-USEC trade presently amounts to 9% of the total trade deployment.

Delivery of the new vessels is planned to start in February 2023 and run through January 2024.

“This is a milestone agreement for ZIM, valued in excess of US$1 billion, that enables us to achieve two important strategic objectives,” said Eli Glickman, ZIM president and chief executive officer.

“First, these top-of-the-line advanced vessels will allow us to meet growing market demand on the Asia-US East Coast trade and provide top-level, reliable service to our customers on this important trade lane. Second, in line with our core sustainability values, investing in liquefied natural gas-fuelled green vessels demonstrates our continued commitment and leadership in addressing environmental issues related to our industry, meeting customer demand to reduce CO2 emissions, helping to preserve clean air and reducing our carbon footprint. We are delighted to partner with industry leaders such as Seaspan and Samsung Heavy Industries on this transaction.”