The Israeli container carrier ZIM has confirmed its agreement with Canada-based vessel owner, Seaspan Corporation, for the long-term charter of ten 7,000TEU liquefied natural gas (LNG) dual-fuel container vessels.

ZIM will pay approximately US$1.5 billion in total with the company’s President and CEO, Eli Glickman, stating that “Since going public, and further evidenced by this transaction, we remain committed to deploying capital prudently and enhancing shareholder value.”

The delivery of the post-panamax vessels is expected to begin in the fourth quarter of 2023 and to be completed in 2024.

This charter agreement comes after another deal between ZIM and Seaspan in February, when the two companies announced a long-term chartering agreement for ten 15,000TEU LNG-fueled vessels.

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

Glickman added, “We are investing in ‘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.”

ZIM noted that Clarksons Platou acted as its financial and professional advisor in connection with this transaction.

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