ZIM, Shell unveil large-scale long-term LNG bunkering deal
ZIM Integrated Shipping (NYSE:ZIM) $ZIM Integrated Shipping Services Ltd.(ZIM)$said on Wednesday it signed a 10-year agreement with Shell (SHEL) $SHELL PLC SPON ADS EACH REPR 2 ORD SHS(SHEL)$valued at more than $1B to supply 10 liquefied natural gas-fueled vessels that will be deployed on the flagship ZIM Container Service Pacific, on the Asia to USEC trade.
ZIM (ZIM) said the ships will be the first LNG-fueled Very Large Container Ships to operate on the Asia to North America shipping route.
On the basis that liquefied natural gas emits ~20% less greenhouse gas emissions than conventional marine fuels, ZIM (ZIM) said using LNG on the 10 ships is equivalent to having two out of the 10 vessels in the fleet with zero emission.
ZIM expects the 10 15K TEU vessels will enter into service during 2023-24 transporting goods from China and South Korea to the U.S. East Coast and the Caribbean.
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