Agreement includes 10X15,000 TEU vessels, intended to meet
the growing market demand in the Asia - US East Coast trade
Vessel delivery to ZIM expected between February 2023 to January
2024
HAIFA, Israel and LONDON,
Feb. 12, 2021 /PRNewswire/
-- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM"),
and Seaspan Corporation, a wholly owned subsidiary of Atlas Corp.
("Atlas") (NYSE: ATCO), announced today a strategic agreement for
the long-term charter of ten 15,000 TEU liquefied natural gas (LNG)
dual-fuel container vessels, to serve ZIM's Asia - US East Coast trade. ZIM is a leading
player in this growing trade with an estimated market share of 9%
according to market intelligence provider, PIERS.
Eli Glickman, ZIM President
& CEO, stated: "This is a milestone agreement for ZIM,
valued in excess of one billion
dollar, that enables us to achieve two important strategic
objectives. First, these top of the line advanced vessels will
allow us to meet growing market demand on the Asia - US East Coast trade and provide
top-level, reliable service to our customers on this important
trade lane. Second, in line with our core sustainability values,
investing in LNG-fueled "green" vessels demonstrates our continued
commitment and leadership in addressing environmental issues
related to our industry, meeting customer demand to reduce CO2
emissions, helping to preserve clean air and reducing our carbon
footprint. We are delighted to partner with industry leaders such
as Seaspan and Samsung Heavy Industries on this transaction."
Bing Chen, Chairman, President and CEO of Seaspan, added:
"We are very pleased to partner with ZIM to facilitate our
customer's industry leading environmental initiative. This
transaction signifies both ZIM's and Seaspan's commitment to ESG
principles, carbon reduction, and resolve to contribute to a
greener business community in the future."
Korean-based Samsung Heavy Industries, commissioned by Seaspan
to build these vessels, is one of the world's largest shipyards and
a leader in high-tech shipbuilding, with vast experience in
LNG-fueled vessels.
About ZIM
ZIM is a global, asset-light container liner shipping company
with leadership positions in the markets where it operates. Founded
in Israel in 1945, ZIM is one of
the oldest shipping liners, with over 75 years of experience,
providing customers with innovative seaborne transportation and
logistics services with a reputation for industry leading transit
times, schedule reliability and service excellence.
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on deploying capital to create sustainable
shareholder value. Atlas brings together an experienced asset
management team with deep operational and capital allocation
experience. Atlas targets long-term, risk adjusted returns across
high-quality infrastructure assets in the maritime sector, energy
sector and other infrastructure verticals. Atlas's two portfolio
companies, Seaspan Corporation and APR Energy are unique,
industry-leading operating platforms in the global maritime and
energy spaces, respectively. For more information visit
atlascorporation.com.
About Seaspan
Seaspan is a leading independent owner and operator of
containerships with industry leading ship management services.
Seaspan charters its vessels primarily pursuant to long-term,
fixed-rate, time charters to the world's largest container shipping
liners. As of September 30, 2020,
Seaspan's fleet consists of 127 containerships, representing total
capacity of approximately 1,073,000 TEU. Seaspan's operating fleet
of vessels has an average age of approximately 7 years and an
average remaining lease period of approximately 4 years, on a
TEU-weighted basis. For more information visit seaspancorp.com.
Forward Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including
forward-looking statements regarding ZIM's ability to meet growing
market demand and to provide reliable service to customers on the
Asia - US East Coast trade. These
risks and uncertainties include, but are not limited to: the
possibility that ZIM will not be able to meet demand from customers
on the Asia - US East Coast trade
; and other factors detailed from time to time in ZIM's and Atlas's
periodic reports and filings with the Securities and Exchange
Commission ("SEC"), including ZIM's prospectus filed with the SEC
on February 1, 2021, and Atlas's
Annual Report on Form 20-F for the year ended December 31, 2019 filed with the SEC on
April 13, 2020 and Report on Form 6-K
for the quarter ended September 30,
2020 furnished to the SEC on November
11, 2020. Each of ZIM and Atlas expressly disclaim any
obligation to update or revise any of these forward-looking
statements, whether because of future events, new information, a
change in their views or expectations, or otherwise. Neither ZIM
nor Atlas makes any prediction or statement about the performance
of any of their respective securities.
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ZIM Contacts
Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-8652520
shats.avner@zim.com
Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana@il.zim.com
Leon Berman
The IGB Group
212-477-8438
lberman@igbir.com
Seaspan and Atlas Corp. Investor
Inquiries
Robert Weiner
Investor Relations
Seaspan and Atlas Corp.
Tel. +1-904-345-4939
Email: IR@atlascorporation.com