HAIFA, Israel, Jan. 18, 2022 /PRNewswire/ -- ZIM Integrated
Shipping Services (NYSE: ZIM) announced today a new eight-year
charter agreement with a shipping company that is affiliated with
Kenon Holdings Ltd.[1], according to which
ZIM will charter three 7,000 TEU liquefied natural gas (LNG)
dual-fuel container vessels, to serve across ZIM's various
global-niche trades for total consideration of approximately
$400 million. The vessels will be
constructed at Korean-based shipyard, Hyundai Samho Heavy
Industries and are scheduled to be delivered during the first and
second quarters of 2024.
Eli Glickman, ZIM President
& CEO, stated: "We are pleased to enter into another
charter agreement to secure high quality tonnage, with a focus on
adding extremely versatile vessels that could serve us on multiple
trades. As we work to secure our core operating fleet to meet
growing market demand, we remain committed to maintaining
significant fleet flexibility to execute our proven global-niche
strategy and best serve our customers. Importantly, adding "green"
LNG-fueled capacity further strengthens ZIM's position at the
forefront of reducing carbon intensity among the global liners and
will enable us to assist our customers in reducing their carbon
footprint."
Mr. Glickman added: "This transaction further demonstrates our
prudent capital allocation strategy, supporting our efforts to
strengthen our commercial prospects, deliver industry leading
profitability, and create enduring value for shareholders."
About ZIM
ZIM is a global 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 press 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.
[1] Kenon Holdings Ltd. is ZIM's largest shareholder, which
holds approximately 26% of ZIM's issued share capital.
ZIM Contacts
Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
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
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SOURCE ZIM Integrated Shipping Services Ltd.