ZIM Announces New Chartering Transaction for Six 5,500 TEU Wide Beam Newbuild Vessels
Another Attractive Transaction to Secure Modern and Efficient Tonnage in Versatile Size
Vessel Delivery Expected Between Q2 2023 and Q1 2024
HAIFA, Israel, March 30, 2022 /PRNewswire/ -- ZIM Integrated Shipping Services (NYSE: ZIM) announced today a new charter transaction with a group of investors initiated by MPC Capital AG, according to which ZIM will charter a total of up to six 5,500 TEU wide beam newbuild vessels for a period of 7 years and total charter hire consideration of approximately up to $600 million. The vessels will be constructed at Korean-based shipyard, HJ Shipbuilding & Construction (formerly known as Hanjin Heavy Industries & Construction Co.), and are scheduled to be delivered between May 2023 and February 2024.
Eli Glickman, ZIM President & CEO, stated: "We are pleased to announce another attractive chartering transaction for newbuild vessels, securing modern and efficient tonnage vessels which are ideally suited to serve on our expanded network of expedited services, as well as other regional services. We continue to advance our strategy of chartering in highly versatile vessels to strengthen our commercial prospects, maintain our flexibility and enhance our position as an innovative provider of seaborne transportation. With a commitment to delivering industry superior profitability, we expect to continue to employ a prudent capital allocation approach, while maintaining our operational agility and creating enduring value for shareholders."