The ships are expected to be delivered to Zim in the second half of 2009. The purchase includes four twenty foot equivalent (TEU) 8,200 type vessels and four TEU 10,000 ships
Zim Line's top executives Idan Ofer, Yossi Rosen and Director General Doron Goder signed last week an agreement to purchased eight mega- container ships from Hyundai's shipyards in South Korea for USD 1 billion.
The ships are expected to be delivered to Zim in the second half of 2009. The purchase includes four twenty foot equivalent (TEU) 8,200 type vessels and four TEU 10,000 ships.
Zim's Director General Doron Goder said after the signing ceremony that “the deal will enhance Zim's service, minimize shipping time, and expand the company’s deployment of shipping lines between Asia, America and Europe.
Idan Ofer the company's chairman added that " the new purchase will enable Zim lines to meet the demands of global shipping in the next few years and the deal will put the company in the forefront with major shipping companies around the world, who also ordered the same type of containerships."
Israel Corporation announced that the deal would be financed by the company’s existing capital, following the bond issue of last year. It will also consider the option of selling the ships and leasing them back.
Ordering of this type of large capacity vessels is an important stage in Zim’s 5-years strategic plan as outlined by the Board of Directors, which includes a target of doubling Zim’s carriage capacity and increasing profitability.
