ZIM announces new chartering deal for six 5,500 TEU vessels

Transportation of ZIM Integrated Shipping Services Ltd. sea container by vehicle trailer. Port of Odessa. August 16, 2019.

ZIM Integrated Shipping Services has announced a new charter transaction with a group of investors initiated by MPC Capital AG.  

Under the new deal, ZIM will charter a total of up to six 5,500 TEU wide beam newbuild vessels for a period of seven years and a total charter hire consideration of approximately $600 million. 

The vessels will be constructed at the Korean-based shipyard, HJ Shipbuilding & Construction. 

Delivery is scheduled between May 2023 and February 2024. 

Eli Glickman, ZIM President and CEO, praised the chartering transaction and announced: “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.” 

The move comes after ZIM announced a charter agreement for 13 container vessels with Navios Maritime Partners L.P. back in February. 

Last month, ZIM released its financial results for 2021, registering a total revenue of $10.73 billion.  

Figures from the fourth quarter of 2021 showed an increase up to $3.47 billion compared to $1.36 billion in Q4 2020. The success was primarily driven by an increase in volumes and freight rates. 

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