ZIM Signs Agreement With Shell For $1bn LNG Supply

ZIM has signed a 10-year agreement with Shell, valued at more than $1bn, for the supply of liquified natural gas for ten LNG-fueled vessels chartered from Seaspan, the world’s largest containership leasing company.

The agreement with Shell may also cover other trades where ZIM LNG vessels could be deployed.

The 15,000 teu vessels are expected to enter into service during 2023-2024 and will be shipping goods from China and South Korea to the US East Coast and the Caribbean.

Israeli carrier said that on the basis that LNG emits about 20% less greenhouse gas emissions when compared to conventional marine fuels, using LNG on these ten ships would be equivalent to having two out of the ten vessels in the fleet with zero emissions.

Shell and French carrier CMA CGM earlier this year also signed a multi-year LNG supply deal for CMA CGM’s 13,000 teu vessels in the Port of Singapore, starting from the second half of 2023.