Zim’s vessel order plan approved

Zim’s vessel order plan approved Israel Corp. has approved a plan by its subsidiary Zim Integrated Shipping Services to order 12 containerships, Reuters reported.
   In November, Zim said that, due to regulatory restrictions, it would convene a general shareholders’ meeting to approve the plan because Israel Corp.’s two major shareholders, Ofer Group and Bank Leumi, had a personal interest in the fleet transactions and charter contracts.
   Under the plan, eight new 4,250-TEU vessels would be delivered to Zim in 2006 or 2007 and four ships of 6,350 TEUs capacities — Zim’s first “post-Panamax” vessels — would be deployed in 2008 or 2009.
   Zim said earlier that the vessel orders would cost a total of $820 million, with each 6,350-TEU ship costing about $74 million.