Seaspan Corporation has entered into long-term charters worth more than $1.5bn with Israeli carrier ZIM for ten 7,000 teu LNG-powered containership newbuilds.

Seaspan said it will enter into shipbuilding agreements with a major shipyard, with deliveries expected to begin in the fourth quarter of 2023 and through 2024.

Seaspan has announced 55 newbuild vessel orders and the acquisition of four second-hand vessels, since December 2020.

Bing Chen, chairman, president and CEO of Seaspan, commented: “We see these modern 7,000 teus to be the natural successor to the aging global pool of conventional vessels in the 4,000 to 9,000 teu range, where relatively little fleet renewal has taken place. We are experiencing strong customer interest for this vessel size.”

In addition, in February this year, ZIM and Seaspan struck a long-term charter deal for ten 15,000 teu LNG-fueled vessels.

Eli Glickman, ZIM President & CEO, stated: “With this second long-term chartering agreement, we are securing access to our core fleet while maintaining operational agility with respect to the total number of vessels we operate. Since going public, and further evidenced by this transaction, we remain committed to deploying capital prudently and enhancing shareholder value.”