Israel’s Zim charters ten new LNG-powered ships from Seaspan

Israel’s Zim has signed a deal with Seaspan to take on charter ten 7,000 TEU LNG-powered container vessels.

The new deal follows a contract signed by the duo earlier this year for ten 15,000 TEU LNG-powered vessels. This puts the total to 20 LNG-powered ships.

Seaspan, a unit of Atlas Corp, said in a statement on Tuesday the purchase price would reach about $1.05 billion while the 12-year charters would total $1.8 billion of gross contracted cash flow.

The firm said it would place the order for the dual-fuel ships at a major shipyard. It has ordered the previous vessels at South Korea’s Samsung Heavy Industries.

The new vessels will join Zim in the fourth quarter of 2023 and throughout 2024.

“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,” Zim chief Eli Glickman, said.

“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,” he said.

“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,” Bing Chen, CEO of Seaspan, said.

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