Zim board approves lease-out of 4 TEU 6,350 container ships

The company expects to make a pre-tax profit of $60 million over the 2008-2014 lease period
 
The board of Zim Integrated Shipping Services Ltd. approved last week a deal to lease four TEU 6,350 ships, not yet delivered, and lease them to an undisclosed lessee.
 
According to a statement issued by Zim, the company expects to make a pre-tax profit of $60 million over the 2008-2014 lease period.
 
Two of the ships which are owned by Zim, will be delivered to the lessee during the first half of 2008.
 
Zim expects a pre-tax annual profit of $8 million during the five-year lease period. The other two ships, which Zim leases, will be delivered to the lessee in first half of 2009 for a period five years, and, according to the company, are expected to generate a pre-tax annual profit of $4 million.
 
Zim estimates the total revenue from the leasing of the four ships at $54 million per year during the lease period.