ZODIAC Maritime, controlled by Eyal Ofer, has ordered five 11,000 TEU ships that will be time chartered by South Korea's Hyundai Merchant Marine (HMM) once they are delivered in 2019.
Each scrubber-fitted vessel is believed to cost US$90 million, reported Singapore's Splash 24/7, which cited Allied Shipbroking.
Zodiac Maritime was one of several shipowners, who agreed to reduce vessel charter rates for HMM as it battled to remain operational last year. Ultimately, HMM was able to reach an acceptable restructuring plan, unlike Hanjin Shipping, which went bankrupt.
In the wake of securing its future, HMM has focused on re-establishing itself by outlining plans to order new ships, charter more vessels and acquire additional terminals at ports around the world.