Israel's Zim to cooperate with Maersk, MSC on Asia-U.S. trade
19/07/2018 13:11
TEL AVIV, July 19 (Reuters) - Israel's Zim Integrated
Shipping Services said on Thursday it will cooperate with Maersk
Line and Mediterranean Shipping Co (MSC) on the Asia-U.S. East
Coast trade, providing a boost to Zim's Pacific services.
Starting in September the companies will operate together
five loops between Asia and the U.S. East Coast. Zim will
operate one loop and the other four will be operated by Maersk
and MSC, which are the members of the 2M Alliance.
"The new cooperation offers Zim's customers a more
comprehensive product portfolio, with a wider range of direct
calls in Asia and the U.S. and faster transit time," the company
said in a statement. "In addition, it is expected to generate
cost efficiencies for Zim."
The term of the strategic cooperation, which is subject to
regulatory approval, is seven years. The parties expect to
disclose more information about network changes and schedules on
the trade as soon as possible.
Zim, which operates about 80 container vessels, is 32
percent owned by Kenon Holdings KEN.N .
(Reporting by Tova Cohen
Editing by Steven Scheer)
((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))