ZIM Integrated Shipping Services Ltd. has announced that during the month of October, it has purchased seven secondhand container ships, in a number of separate transactions.
The newly acquired vessels by the Israeli carrier have been built between 2007 and 2009 and are five 4,250TEU and two 1,100TEU boxships.
The total cost for the acquisition of the seven ships is approximately US$320 million, according to the company.
“Since going public our focus has been to allocate capital to strengthen our commercial prospects and create long-term shareholder value,” stated Eli Glickman, ZIM President and CEO.
“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,” he added.
As for the future, he noted that ZIM will continue to complement its primary strategy of chartering-in the vast majority of its vessels, “by selectively acquiring second-hand tonnage when the appropriate opportunities arise.”
