George Economou-led Containers Ventures Holdings and Idan Ofer’s Kenon Holdings have signed long-term charter agreements with Israeli liner operator ZIM for 10 newbuild LNG dual-fuel container vessels
Under the agreement, ZIM will charter the 11,500-TEU vessels for deployment across various global trade routes, with a total charter hire consideration of approximately US$2.3Bn.
All vessels are being built at China’s Zhoushan Changhong Shipyard, with deliveries scheduled between 2027 and 2028.
Containers Ventures Holdings, part of Mr Economou’s TMS Group, will supply seven of the vessels. In a related development, Zhoushan Changhong announced in late February amajor order from the Greek shipowner for up to 10 LNG dual-fuel container ships, worth around US$1.4Bn. That order marked both the shipyard’s first collaboration with Mr Economou and the latter’s return to container ship ownership.
Kenon Holdings, where Idan Ofer is the largest shareholder, will provide the remaining three vessels to ZIM. Notably, Kenon was ZIM’s largest shareholder until the end of 2024.
ZIM’s LNG core fleet
ZIM president and chief executive Eli Glickman described the agreements as a strategic step in reinforcing the company’s LNG-powered fleet.
These agreements “ensure access to an important vessel segment and further strengthen our core LNG fleet,” said Mr Glickman. “Expanding our LNG fleet supports ZIM’s decarbonisation objectives and solidifies our position as an industry leader in carbon intensity reduction.” He also noted growing market demand for environmentally friendly shipping solutions.
ZIM is currently the world’s ninth-largest liner operator, with a 2.4% share of the global market, according to Alphaliner. As of its latest financial disclosure, the company operates a fleet of 128 container ships, mostly chartered-in, with a total capacity of 784,000 TEU. LNG-fuelled tonnage accounts for approximately 40.0% of ZIM’s operating capacity.
This latest deal follows the delivery of all 46 newbuilds ZIM contracted between 2021 and 2022.
