HAIFA, Israel, Oct. 21, 2021 /PRNewswire/ -- ZIM Integrated
Shipping Services Ltd. (NYSE: ZIM), announced today that during the
month of October 2021, it purchased
seven secondhand vessels (built between 2007-2009) in a number of
separate transactions. The vessels purchased include five 4,250 TEU
vessels and two 1,100 TEU vessels, for a total consideration of
approximately $320 million.
Eli Glickman, ZIM President
& CEO, stated: "Since going public our focus has been
to allocate capital to strengthen our commercial prospects and
create long-term shareholder value. With the opportunistic
acquisition of these much-needed vessels, we have drawn on our
strong cash position and our agile approach to maintain and expand
our operating fleet to meet growing customer demand, while
remaining committed to delivering industry superior profitability.
Going forward, we will continue to complement our primary strategy
of chartering-in the vast majority of our vessels, by selectively
acquiring second-hand tonnage when the appropriate opportunities
arise."
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 76 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.
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, as well as assessment as to
the growth trend of the market. These risks and uncertainties
include, but are not limited to: the possibility that ZIM will not
be able to meet demand from customers, the risk that the growth
trend of the market will not continue or be slower than expected;
the risk that current trends in the chartering market will weaken
or reverse, and other factors detailed from time to time in ZIM's
periodic reports and filings with the Securities and Exchange
Commission ("SEC"), including ZIM's annual report on Form 20-F
filed with the SEC on March 22, 2021.
ZIM expressly disclaims any obligation to update or revise any of
these forward-looking statements, whether because of future events,
new information, a change in its views or expectations, or
otherwise. ZIM does not make any prediction or statement about the
performance of its securities.
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@zim.com
Leon Berman
The IGB Group
212-477-8438
lberman@igbir.com
Logo - https://mma.prnewswire.com/media/1458457/ZIM_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/zim-announces-acquisitions-of-seven-secondhand-vessels-during-october-2021-301406117.html
SOURCE ZIM Integrated Shipping Services Ltd.