ZIM orders new fleet of LNG-powered vessels

ZIM orders new fleet of ships

ZIM Integrated Shipping Services (ZIM) has struck a long-term agreement with Seaspan Corporation (Seaspan) for a new fleet of 7,000 TEU vessels.

In a statement, ZIM said the 10 vessels will be worth $1.5 billion and will run on liquified natural gas (LNG); they will serve the carrier’s various global-niche trades.

The agreement follows a previous agreement signed in February 2021 for 10 more LNG-fuelled vessels with a capacity of 15,000 TEU.

Eli Glickman, ZIM President & CEO, said, “We are very pleased to once again partner with Seaspan as we strategically enhance our operating fleet to further facilitate our long-term strategy.

“With this second long-term chartering agreement, we are securing access to our core fleet, while maintaining operational agility with respect to the total number of vessels we operate.

“Since going public, and further evidenced by this transaction, we remain committed to deploying capital prudently and enhancing shareholder value.

“Keeping with our commitment to reducing our carbon footprint and preserving our oceans, we are investing in state-of-the-art ‘green’ vessels that use the cleanest technology currently available.

“We are proud that this transaction will further improve our carbon intensity standing among the global liners.”

Bing Chen, Chairman, President and CEO of Seaspan, added, “We are very proud to further ZIM’s leading environmental initiatives with advanced designs, competitive pricing, and valuable deliveries.

“Together, our teams developed a creative and competitive solution by leveraging Seaspan’s decades of environmental expertise, newbuild experience, integrated platform, and trusted partnerships with shipyards.

“Our growing partnership and the twenty LNG-fueled newbuilds to date signify both ZIM’s and Seaspan’s commitment to carbon reduction and sustainable growth for our industry.”

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