ISRAELI flag carrier Zim has exercised its option for a further five newbuild 7,000-LNG dual-fueled vessels, on 12-year charters, from containership owner Seaspan, reports London's Loadstar.
With the launch of nine new services this year - including lucrative express sailings from Asia to the US west coast, Zim has increased its fleet from 68 ships to 105 in the past year, reaching a capacity of 424,000-TEU and ranking it 11th in the carrier league table, one below Wan Hai.
The option was part of Zim's July agreement to charter 10 vessels of the same class and design from the non-operating owner and commits the carrier to an additional minimum of US$900 million in hire costs.
Seaspan said it would pay $530 million for the construction of the ships and should start to make a profit on them just over halfway through the charter period.
Delivery of the original order of 10 ships is scheduled to begin in the final quarter of 2023, with the latest additions expected in the third and fourth quarters of 2024.
The charter of fifteen 7,000-TEU ships follows Zim's agreement with Seaspan in February for the long-term charter of 10 new 15,000-TEU LNG-powered vessels, and its 'orderbook' of newbuilds on charter now stands at 25 ships for 255,000-TEU.
Zim posted a record net profit of $888 million for the second quarter, from a 44 per cent increase in its liftings.
Describing the current supply chain disruptions, blamed for driving the massive rise in freight rates, as "anarchy", CEO Eli Glickman suggested the "congestion issue was here to stay".
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