ZIM has announced new agreements for the long-term charter of ten 11,500 TEU liquefied natural gas (LNG) dual-fuel container vessels for US$2.3 billion to serve across the Israeli flag carrier's global trade routes, reports Dubai's Shipping Herald.

Seven of the vessels will be chartered to Zim by Containers Ventures Holdings Inc, an affiliate of the TMS Group, and three will be chartered to Zim by a shipping company that is affiliated with Kenon Holdings, which was Zim's largest shareholder until the end of 2024.

The vessels will be built in Zhoushan Changhong Shipyard in China, with delivery expected between 2027 and 2028."After having received all 46 newbuilds we contracted in 2021 and 2022, which significantly improved the efficiency of our operated capacity, we have secured long-term charters for these 11,500 TEU newbuild LNG dual-fuel ships," said Zim president and CEO Eli Glickman.

"The addition of these vessels will help keep our modernised fleet competitive and support profitable growth over the long term, benefiting our shareholders," he said.