ZIM continues industry-wide mega-ship binge

ZIM continues industry-wide mega-ship binge ZIM Integrated Shipping's board of directors this week approved the purchase of eight 12,600-TEU ships, with an option to buy one more, the Israel-based carrier said Wednesday.
   The purchase of these mega-vessels adds to the 12 ships the company already ordered last year from Hyundai Heavy Industries. That order includes eight 10,000-TEU ships and four 8,200-TEU vessels to be delivered at the end of 2009 and beginning of 2010, respectively. ZIM also recently bought eight smaller ships of 1,700-TEU capacities and two 2,500-TEU ships to be deployed in the carrier's regional feeder networks.
   The 12,600-TEU vessels ships will also be built in Korea and will be delivered at the beginning of 2012. The cost of each ship is of about $170 million, Zim said, and will be able to fit through the new set of locks being constructed by the Panama Canal Authority.