Postponed boxship deliveries ease ZIMs financial woes

The Israeli container shipowner, ZIM Integrated Shipping, has reached a financial understanding to postpone four pending 10,000TEU newbuild deliveries.

Originally due to be delivered in 2010, the quartet will now be delivered in 2014-15.

This follows a similar recent postponement of nine 12,600TEU ships in the same timeframe.

The move bolsters company cash flow by deferring investment of up to $2 billion and is a significant step in ZIM?s extensive economic recovery plan. “This understanding reflects the shipyard?s clear expression of confidence in ZIM?s recovery plan and the company?s long term commercial success,” ZIM ceo Rafi Danieli said. He predicted that the world shipping industry would recover before 2014, providing a stronger market for the newbuildings.