ZIM Integrated Shipping Services Ltd. (ZIM) has signed long-term charter agreements for ten 11,500-TEU liquefied natural gas (LNG) dual-fuel container vessels, with a total charter hire value of approximately US$2.3 billion. The vessels will operate across ZIM's global trade routes.
The Israeli international cargo shipping company noted that 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.
"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," said Eli Glickman, president & CEO of ZIM.
"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," he added.
Glickman noted that expanding the LNG fleet supports ZIM's decarbonization objectives and solidifies its 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," he said.
Glickman further said that 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.
ZIM operates in more than 100 countries, serving approximately 33,000 customers in over 330 ports worldwide.
