The company has an option to buy two more ships of the same size for $97.8 million.
Zim Integrated Shipping Services Ltd. will buy two container ships of 2,450 TEU each, and will have an option to buy two more ships of the same size. Three of the ships are slated for delivery during 2010 and the fourth during the first quarter of 2011.
The price of the first two ships is $45.9 million each, and the price of the optional ships is $47.8 million each. The ships will be paid for in Japanese yen, on the basis of the exchange rate with the US dollar.
Earlier this month, Zim announced that it would buy eight ships from South Korea’s Hyundai Shipyards for $1 billion.
Zim is a wholly owned subsidiary of Israel Corp. (TASE: ILCO), controlled by Ofer Brothers.
Published by Globes [online], Israel business news - www.globes.co.il - on June 26, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007