Dr. Yoram Zeba Zim Lines director general announced that the company has concluded an agreement with an American investment house in which two of Zim’s ships will be sold to the American company.
The agreement said to be worth $ 70m will be signed at the end of June 2004.
It is understood that within the framework of the agreement, in which Zim is due to make $20m net profit, both ships will be chartered by Zim for a period of 5 years on a bareboat charter deal and will be managed by Zim Lines.
Dr. Zeba explained that the income raised by the sale will go towards renewing Zim’s fleet and assist the company to increase its present shipping activities by purchasing larger & faster ships.
