Zephyr and Boree cancels innovative boxship order

The contract, signed in May 2023, involved the construction of five innovative container vessels, each with a capacity of approximately 1,300 TEUs. These vessels were designed to run on methanol-fuelled engines and incorporate sails, reflecting Zephyr & Boree’s commitment to sustainable shipping. The contract was valued at around $311 million.

Originally, the vessels were scheduled for delivery between late 2025 and mid-2026 and were intended for long-term charters with several French cargo companies. However, financing difficulties led Zephyr & Boree to request the contract’s cancellation. HMD agreed to cancel the order, stating that it expects no financial losses from the termination.

Despite this setback, Zephyr & Boree remains optimistic. The company has expressed confidence that it will secure financing by the end of the year, leaving open the possibility of resuming construction at HMD in the near future. This project is seen as a key step in Zephyr & Boree’s strategy to integrate greener propulsion technologies into its fleet, aligning with broader industry trends toward decarbonisation.