PR88069

HAIFA, Israel and LONDON, Feb. 12, 2021 /PRNewswire=KYODO JBN / --

Agreement includes 10X15,000 TEU vessels, intended to meet the growing market

demand in the Asia - US East Coast trade

Vessel delivery to ZIM expected between February 2023 to January 2024

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM"), and Seaspan

Corporation, a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO),

announced today a strategic agreement for the long-term charter of ten 15,000

TEU liquefied natural gas (LNG) dual-fuel container vessels, to serve ZIM's

Asia - US East Coast trade. ZIM is a leading player in this growing trade with

an estimated market share of 9% according to market intelligence provider,

PIERS.

Eli Glickman, ZIM President & CEO, stated: "This is a milestone agreement for

ZIM, valued in excess of one billion dollar, that enables us to achieve two

important strategic objectives. First, these top of the line advanced vessels

will allow us to meet growing market demand on the Asia - US East Coast trade

and provide top-level, reliable service to our customers on this important

trade lane. Second, in line with our core sustainability values, investing in

LNG-fueled "green" vessels demonstrates our continued commitment and leadership

in addressing environmental issues related to our industry, meeting customer

demand to reduce CO2 emissions, helping to preserve clean air and reducing our

carbon footprint. We are delighted to partner with industry leaders such as

Seaspan and Samsung Heavy Industries on this transaction."

Bing Chen, Chairman, President and CEO of Seaspan, added: "We are very pleased

to partner with ZIM to facilitate our customer's industry leading environmental

initiative. This transaction signifies both ZIM's and Seaspan's commitment to

ESG principles, carbon reduction, and resolve to contribute to a greener

business community in the future."

Korean-based Samsung Heavy Industries, commissioned by Seaspan to build these

vessels, is one of the world's largest shipyards and a leader in high-tech

shipbuilding, with vast experience in LNG-fueled vessels.

About ZIM

ZIM is a global, asset-light container liner shipping company with leadership

positions in the markets where it operates. Founded in Israel in 1945, ZIM is

one of the oldest shipping liners, with over 75 years of experience, providing

customers with innovative seaborne transportation and logistics services with a

reputation for industry leading transit times, schedule reliability and service

excellence.

About Atlas

Atlas is a leading global asset management company, differentiated by its

position as a best-in-class owner and operator with a focus on deploying

capital to create sustainable shareholder value. Atlas brings together an

experienced asset management team with deep operational and capital allocation

experience. Atlas targets long-term, risk adjusted returns across high-quality

infrastructure assets in the maritime sector, energy sector and other

infrastructure verticals. Atlas's two portfolio companies, Seaspan Corporation

and APR Energy are unique, industry-leading operating platforms in the global

maritime and energy spaces, respectively. For more information visit

atlascorporation.com.

About Seaspan

Seaspan is a leading independent owner and operator of containerships with

industry leading ship management services. Seaspan charters its vessels

primarily pursuant to long-term, fixed-rate, time charters to the world's

largest container shipping liners. As of September 30, 2020, Seaspan's fleet

consists of 127 containerships, representing total capacity of approximately

1,073,000 TEU. Seaspan's operating fleet of vessels has an average age of

approximately 7 years and an average remaining lease period of approximately 4

years, on a TEU-weighted basis. For more information visit seaspancorp.com.

Forward Looking Statements

This release contains certain forward-looking statements (as such term is

defined in Section 21E of the Securities Exchange Act of 1934, as amended)

concerning future events, including forward-looking statements regarding ZIM's

ability to meet growing market demand and to provide reliable service to

customers on the Asia - US East Coast trade. These risks and uncertainties

include, but are not limited to: the possibility that ZIM will not be able to

meet demand from customers on the Asia - US East Coast trade ; and other

factors detailed from time to time in ZIM's and Atlas's periodic reports and

filings with the Securities and Exchange Commission ("SEC"), including ZIM's

prospectus filed with the SEC on February 1, 2021, and Atlas's Annual Report on

Form 20-F for the year ended December 31, 2019 filed with the SEC on April 13,

2020 and Report on Form 6-K for the quarter ended September 30, 2020 furnished

to the SEC on November 11, 2020. Each of ZIM and Atlas expressly disclaim any

obligation to update or revise any of these forward-looking statements, whether

because of future events, new information, a change in their views or

expectations, or otherwise. Neither ZIM nor Atlas makes any prediction or

statement about the performance of any of their respective securities.

Logo: https://mma.prnewswire.com/media/827161/ZIM_Logo.jpg

ZIM Contacts

Media:

Avner Shats

ZIM Integrated Shipping Services Ltd.

+972-4-8652520

shats.avner@zim.com

Investor Relations:

Elana Holzman

ZIM Integrated Shipping Services Ltd.

+972-4-865-2300

holzman.elana@il.zim.com

Leon Berman

The IGB Group

212-477-8438

lberman@igbir.com

Seaspan and Atlas Corp. Investor Inquiries

Robert Weiner

Investor Relations

Seaspan and Atlas Corp.

Tel. +1-904-345-4939

Email: IR@atlascorporation.com

SOURCE: ZIM Integrated Shipping Services Ltd.