ZIM Inks New Chartering Agreement For Thirteen Vessels

ZIM Integrated Shipping Services a new charter agreement with Navios Maritime Partners L.P., according to which ZIM will charter a total of thirteen container vessels comprising five secondhand vessels and eight newbuild vessels for a total charter hire consideration of approximately $870 million.

The five secondhand vessels which range from 3,500-4,360 TEUs and are expected to be delivered in the first and second quarters of 2022, will be deployed across ZIM’s global network.

The eight 5,300 TEU wide beam newbuilds scheduled to be delivered during the third quarter of 2023 through the fourth quarter of 2024, are expected to be deployed in trades between Asia and Africa. The charter duration of the secondhand vessels is up to 4.5 years, while the charter duration of the newbuild vessels is up to 5.3 years.

Image Credits: zim.com

Eli Glickman, ZIM President & CEO, stated: “With this latest chartering transaction, we continue to execute on our strategy of chartering-in highly versatile vessels to best serve our customers and meet significant and sustained demand across our global network. This transaction enhances our position as a global-niche operator, contributing immediate much-needed tonnage in required sizes, as well as securing additional high-quality and cost-effective capacity to meet growing demand in the future. Looking ahead, we expect to continue to capitalize on opportunities to further strengthen our commercial prospects and support our operational agility, while maintaining our prudent capital allocation strategy to maximize shareholder value.”

Reference: zim.com

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Source: Maritime Shipping News