Israel Shipyards Industries Acquires Cargo Ship for $14.2 Million

Israel Shipyards Industries Ltd reports that a foreign limited partnership fully owned by its subsidiary, Israel Shipyards Ltd, signed an agreement yesterday (August 11) to purchase a cargo ship with a carrying capacity of approximately 39,000 tons. The company will pay approximately $14.225 million (about 42.6 million NIS) for the vessel.

The completion of the transaction and delivery of the vessel are expected to take place during the third or fourth quarter of 2026, depending on the final delivery date to be determined. Financing for the ship's purchase is expected to come from a combination of the company's equity and a loan from a banking corporation.

The company notes that the acquisition of the ship aligns with the business strategy of its maritime transport sector. This strategy involves capitalizing on business opportunities to upgrade the fleet, including the sale of existing ships alongside the identification and purchase of modern cargo vessels suitable for the maritime transport sector and the group's various operational segments.