News / Bullish Zim goes long on new charters as it sets its sights on growth

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Israeli ocean carrier Zim has exercised its option for a further five newbuild 7,000 teu LNG dual-fuelled vessels, on 12-year charters, from containership owner Seaspan Corp.

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 $900m in hire costs.

Seaspan said it would pay approximately $530m for the construction of the ships and should start to make a profit on ...