Zim Integrated Shipping Services Ltd (NYSE: ZIM) continues to operate a different business model from its competitors by chartering vessels from third parties rather than owning them. Zim today owns only one ship. The company believes that this policy provides greater financial flexibility in times of crisis or high demand and enhances profit. Zim and Seaspan Corporation today announced a new strategic long-term charter agreement worth $1.5 billion for 10 7,000-TEU dual-fuel LNG container ships. This follows a similar deal in February 2021, when Zim and Seaspan announced a long-term charter agreement for ten 15,000 TEU LNG vessels. Related Articles New Israelis on Wall Street Make Huge Profits Zim shareholders sell $279 million in stock in secondary offering. Eli Glickman, President and CEO of Zim, said, “We are very pleased to partner again with Seaspan as we strategically enhance our operational fleet to further facilitate our long-term strategy. With this second long-term lease agreement, we are ensuring access to the core fleet, while maintaining lightness Operating movement in relation to the total number of vessels we operate. Since our launch to the public, and as evidenced by this transaction, we remain committed to spreading capital wisely and enhancing shareholder value.” He added, “Committing to 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 technologies currently available. We are proud that this deal will further improve our carbon intensity standing between global lines.” Published by Globes, Israel business news – en.globes.co.il – on July 7, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
Zim leases ‘green’ container ships for $1.5 billion
0 Comments