Mutually Beneficial Arrangement Delivers Cost Efficiencies,
While Upholding the Highest Standards of Service and
Reliability
HAIFA,
Israel, Sept. 6, 2023 /PRNewswire/ -- ZIM
Integrated Shipping Services Ltd. (NYSE: ZIM), a global
container liner shipping company, announced today a new operational
cooperation agreement with MSC, the industry's largest carrier,
encompassing several trades. This agreement is designed to
significantly enhance operational efficiencies and further elevate
service levels for ZIM's valued customers.
The cooperation scope includes services connecting the Indian
subcontinent with the East Mediterranean, the East Mediterranean
with Northern Europe, and services
connecting East Asia with
Oceania.1 The agreements between ZIM and MSC includes
vessel sharing, slot purchases, and swap arrangements.
Eli Glickman, ZIM President
& CEO, said: "This important operational collaboration with
MSC, a trusted partner and industry leader, marks a mutually
beneficial arrangement, delivering cost efficiencies for both
carriers, while upholding the highest standards of service and
reliability for our customers. Our decade-long partnership with MSC
spanned across multiple trades over the years, and today encompass,
among others, Asia, the Pacific
Northwest, Oceania, India,
East-Med, Northern Europe, and
more. Our agile strategy enabled us once again to promptly adapt to
changing market dynamics, ensuring that we continue to best meet
our customers' needs with our signature personalized service,
supported by cutting-edge digital tools."
Mr. Glickman added: "Capitalizing on this opportunity
with MSC will improve efficiencies in our fleet and is consistent
with our focus on taking proactive steps amidst continued near-term
headwinds in the container shipping market. We expect that this
strategic cooperation will benefit ZIM both operationally and
financially, and it is another testament to our agility. We will
continue to seek opportunities to leverage our strengths and
capabilities to create long-term value for our customers and
investors alike."
The restructured ZIM services included in the operational
collaboration agreement are as follows:
Between Asia and Oceania, ZIM
will offer the following services:
- Northeast Asia -
Australia (ZAX): Pusan -
Qingdao - Shanghai - Ningbo - Hong
Kong - Yantian - Nansha - Brisbane - Melbourne - Sydney - Brisbane - Pusan
- ZIM Oceania - Asia
(ZOA): Laem Chabang - Singapore - Tanjung Pelapas -
Singapore - Jakarta - Brisbane - Sydney - Auckland - Lyttelton -
Otago - Brisbane -
Tanjung Pelepas - Singapore
- Laem Chabang
- ZIM Oceania Express (ZOX): Singapore -
Jakarta - Fremantle -
Melbourne - Sydney - Napier - Tauranga
- Brisbane - Tanjung
Pelepas - Singapore
Between the Indian subcontinent and the East Mediterranean, ZIM
will be providing two strings, with port rotations as follows:
- ZIM India Israel (ZII): Nhava Sheva - Mundra -
Haifa
- ZIM India Turkey (ZIT): Hazira
- Mundra -Tekirdag (TR) -
Derince (TR) - Iskenderun
(TR) - Mersin - Hazira
In the East Mediterranean to Northern
Europe trade, ZIM will offer two strings, with port
rotations as follows:
- ZIM North Europe Israel (ZNI): Ashdod -
Haifa - Damietta (EG) -
Valencia - London Gate Way -
Rotterdam - Hamburg - Antwerp - Le
Havre - Ashdod
- ZIM Turkey North Europe (ZNT): Aliaga
(Nemrut Bay) - Le Havre -
Felixstowe - Bremerhaven - Hamburg - Antwerp - Aliaga (Nemrut
Bay)
The service restructuring is aimed to ensure improved service
reliability and offers seamless connections to other ZIM services
operating in Asia and the
Mediterranean.
About ZIM
Founded in Israel in 1945, ZIM
(NYSE: ZIM) is a leading global container liner shipping company
with established operations in more than 90 countries serving
approximately 34,000 customers in over 300 ports worldwide. ZIM
leverages digital strategies and a commitment to ESG values to
provide customers innovative seaborne transportation and logistics
services and exceptional customer experience. ZIM's differentiated
global-niche strategy, based on agile fleet management and
deployment, covers major trade routes with a focus on select
markets where the company holds competitive advantages. Additional
information about ZIM is available at www.ZIM.com.
Forward-Looking Statements
The following information contains or may be deemed to contain
forward-looking statements (as defined in the U.S. Private
Securities Litigation Reform Act of 1995). In some cases, you can
identify these statements by forward-looking words such as "may,"
"might," "will," "should," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential" or "continue," the
negative of these terms and other comparable terminology. These
forward-looking statements, which are subject to risks,
uncertainties and assumptions about the Company, may include
projections of the Company's future financial results, its
anticipated growth strategies and anticipated trends in its
business. These statements are only predictions based on the
Company's current expectations and projections about future events
or results. There are important factors that could cause the
Company's actual results, level of activity, performance or
achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements. Factors that could cause such
differences include, but are not limited to: market changes in
freight, bunker, charter and other rates or prices, supply-demand
fluctuations in the containerized shipping market, new legislation
or regulation affecting the Company's operations, new competition
and changes in the competitive environment, our ability to achieve
cost savings or expense reductions, the outcome of legal
proceedings to which the Company is a party, global, regional
and/or local political instability, inflation rate fluctuations,
capital markets fluctuations and other risks and uncertainties
detailed from time to time in the Company's filings with the U.S.
Securities and Exchange Commission (SEC), including under the
caption "Risk Factors" in its 2022 Annual Report filed with the SEC
on March 13, 2023.
ZIM contacts
Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
shats.avner@zim.com
Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana@zim.com
Leon Berman
The IGB Group
212-477-8438
lberman@igbir.com
[1] The commencement of these services is pending
regulatory clearance.
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SOURCE ZIM Integrated Shipping Services Ltd.
