Seaspan and ZIM Announce Five New Builds of 7,000 TEU Dual Fuel LNG Container Ships
Seaspan today announced that ZIM Integrated Shipping Services (ZIM) has exercised its option to enter into long-term charters for five new builds of 7,000 TEU bi-fuel liquefied natural gas container ships.
ZIM was granted this option due to a charter agreement for ten vessels of the same class announced on July 6e, 2021. Seaspan will now negotiate with a large shipyard to build the LNG container ships, which are expected to be delivered in the fourth quarter of 2024. The LNG container ships are expected to be funded from existing liquidity, cash flows. cash flow from operations and borrowings.
“We continue to implement solutions tailored to the changing needs of our customers,” said Bing Chen, Chairman, President and CEO of Seaspan. “The advanced design of these vessels demonstrates Seaspan and ZIM’s leadership in ESG initiatives and a more sustainable industry. With strong customer interest in this size of vessel, we see this category as the natural successor to the aging global fleet of conventional vessels between 4,000 and 9,000 TEUs.
As of December 2020, and including this announcement, Seaspan has announced 60 orders for new vessels and the acquisition of four used vessels, all of which have since been delivered.