HAIFA, Israel, Jan. 27, 2022 /PRNewswire/ -- ZIM Integrated
Shipping Services Ltd. (NYSE: ZIM) updated today on the status of
its discussions with its 2M alliance
partners in connection with their operational cooperation
agreement.
ZIM and the 2M alliance partners
have agreed, in principle, to extend their existing operational
collaboration agreement on the Asia – US East Coast and Asia – US Gulf Coast trades based on a full
slot exchange and vessel sharing agreement (subject to finalizing
the related documentation and to regulatory approval). The new
agreement is expected to be concluded by the beginning of
February 2022 and become effective on
April 1, 2022.
In addition, ZIM will launch ZIM Med Pacific (ZMP), an
independent pendulum service designed to address its customers'
needs on the Asia to Mediterranean
and Pacific North-West (PNW) trades, and the current collaboration
with the 2M partners on these trades
will be terminated (effective April 1,
2022).
Eli Glickman, ZIM President
& CEO, stated: "Over the past several months, we have
secured the necessary short- and long-term capacity to allow us to
meet growing demand and competitively serve our customers,
particularly on the various transpacific routes, a key trade for
ZIM. We are pleased to continue our collaboration with the
2M partners on the Asia to USEC and USGC trades and to launch a
new, independent pendulum service to connect the Far East with the
Mediterranean and the PNW. The combined new operational mode, will
allow for better operational agility and provide fast and
synchronized connections to ZIM's regional networks in the
Mediterranean, Asia and the
Pacific to provide our customers the variety and level of service
to best serve their needs."
Glickman added: "In recent years, we have strengthened our
capabilities, revolutionizing our service offerings and digitalized
tools to enhance our commercial opportunities and transform ZIM
into an industry leader. Capitalizing on our improved financial
position, we have also advanced our operational capabilities,
boosted our capacity and secured access to state-of-the-art LNG
container vessels. With this commercial and operational
transformation, driven by our innovative spirit, we are confident
that ZIM is well-positioned to realize its mission of delivering
innovative shipping services to its customers to successfully
compete in the market, and deliver superior returns to
shareholders."
About ZIM
ZIM is a global, container liner shipping company with
leadership positions in the markets where it operates. Founded in
Israel in 1945, ZIM is one of the
oldest shipping liners, with over 76 years of experience, providing
customers with innovative seaborne transportation and logistics
services with a reputation for industry leading transit times,
schedule reliability and service excellence.
ZIM Forward Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including
forward-looking statements regarding ZIM's ability to meet growing
market demand and to provide reliable service to customers, as well
as assessment as to the growth trend of the market. These risks and
uncertainties include, but are not limited to: the possibility that
ZIM will not be able to meet demand from customers, the risk that
the growth trend of the market will not continue or be slower than
expected, and other factors detailed from time to time in ZIM's
periodic reports and filings with the Securities and Exchange
Commission ("SEC"), including ZIM's annual report on Form 20-F
filed with the SEC on March 22, 2021.
ZIM expressly disclaims any obligation to update or revise any of
these forward-looking statements, whether because of future events,
new information, a change in its views or expectations, or
otherwise. ZIM does not make any prediction or statement about the
performance of its securities.
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ZIM Contacts
Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-8652520
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
+1-212-477-8438
lberman@igbir.com
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SOURCE ZIM Integrated Shipping Services Ltd.