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ZIM charters 10 more LNG-fuelled newbuilds from Seaspan

Photo: ZIM Line Side view of ZIM vessel in port
ZIM has added a further $1.5bn in charters with tonnage provider Seaspan Corp for ten 7,000 teu, LNG-fuelled containership newbuildings.

The ten 7,000 teu newbuildings order by Seaspan for long term charter to ZIM are expected to be delivered from Q4 2023 and through 2024. ZIM said the charter deals were worth in excess of $1.5bn and the vessels would be deployed on various niche-global trades in which the line operates.

“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,” said Eli Glickman, ZIM President and CEO.

In February ZIM agreed long term charters with Seaspan for ten 15,000 teu, LNG dual-fuel, newbuildings.

Bing Chen, Chairman, President and CEO of Seaspan, commented: “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.”

The contracts add to a burgeoning containership orderbook which has increased from a ratio 8% of the existing fleet to over 20% in the last eight months. LNG propulsion has been a growing feature in boxship newbuild orders creating new opportunities for equipment manufacturers.

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