SHI lays keel for ZIM’s 1st dual-fuel 15,000 TEU boxship

South Korean shipbuilder Samsung Heavy Industries (SHI) has laid keel for Sammy Ofer 15,000 TEU dual-fuel containership at its Geoje yard.

The LNG-powered vessel is scheduled to join the fleet of Israeli shipping company ZIM Integrated Shipping Services in 2023 under a long-term charter agreement. The vessel will serve the carrier’s Asia – US East Coast trade.

The ship was ordered as part of ten-vessel series back in 2021 by Seaspan Corporation, a Hong Kong-based owner and operator of container vessels.

The 12-year charter period for all ten ships will see ZIM paying $1.8bn for the vessels.

LNG has been a vital part of the company’s ESG strategy and ZIM has been on a chartering spree for LNG-fueled boxships over the past two years.

In 2021, the shipping major also hired a total of fifteen 7,000 TEU LNG-fueled container vessels from Seaspan which are due to be delivered starting from the fourth quarter of 2023 and into 2024. 

Most recently, ZIM announced an eight-year charter agreement worth for $400 million with a shipping company that is affiliated with Kenon Holdings Ltd for three 7,000 TEU LNG dual-fuel containerships. 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.

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ZIM reported strong Q2 results, including net profit of $1.34 billion, as well as its best ever first half-year results with standout margins.

“Despite the backdrop of various challenges, based on our strong performance in the year to date coupled with spot and contract rates that remain highly profitable, we are reaffirming our 2022 guidance, which would mark another year of record earnings and profitability.

Moving forward, we are confident that our differentiated strategy, the proactive steps we have taken to strengthen our commercial offering and secure cost efficient newbuild capacity through multiple chartering agreements, and continued investment in digital initiatives and disruptive technologies, will position ZIM as a top performer in our industry and enable us to deliver long-term value to our shareholders,” Eli Glickman, ZIM President & CEO, said commenting on the results earlier this month.