Zim in billion dollar boxship order

Zim, the Israeli shipping company, has ordered eight container ships, four 8,200 TEU and four 10,000 TEU vessels, from the Hyundai Shipyards in Korea. The deal is worth $1 billion and Zim will take delivery of the ships during the second half of 2009.

The ordering of these large capacity vessels is an important stage in Zim’s five-year strategic plan, which includes a target of doubling Zim’s carriage capacity and increasing profitability. These new-generation ships will enable the company to upgrade services, reduce transit times to various destinations, and expand the company’s deployment of shipping lines between Asia, America and Europe.