ZIM announces new chartering transaction for six 5,500 TEU newbuildings

The Israeli box carrier ZIM has announced 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.

The chartering period will be seven years and the total charter hire consideration is approximately US$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, commented, “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.”