New Agreement which includes Six Asia to USEC and USGC
Services is Scheduled to Commence in February 2025
HAIFA,
Israel, Sept. 9, 2024 /PRNewswire/ -- ZIM
Integrated Shipping Services Ltd. (NYSE: ZIM), a global
container liner shipping company, announced today that it has
entered into a new long-term operational cooperation with
Mediterranean Shipping Company (MSC) on the Asia - US East Coast and Asia - US Gulf trades. The new services are
scheduled to be launched in February
2025, subject to regulatory approvals and filings.
The proposed network under this cooperation agreement is
designed to enable ZIM to provide its customers with extensive port
coverage, further elevating ZIM's quality of service, as well as
achieving significant operational efficiencies.
Eli Glickman, ZIM President
& CEO, said: "This important collaboration reflects ZIM's
commitment to both delivering an outstanding shipping solution to
its customers, and taking continuous proactive steps to enhance
efficiencies in our network. It is the direct outcome of our fleet
renewal program which has greatly enhanced ZIM's competitive
position, particularly on the Asia
to US East Coast trade. We are pleased to, once again, join forces
with MSC, an industry leader and ZIM's long-standing trusted
partner, to augment our network while upholding our
customer-centric approach and commitment to the highest levels of
service. Consistent with ZIM's focus on decarbonization, this
partnership will promote greater utilization of larger and more
eco-friendly tonnage, including our LNG-powered vessels. I am proud
that ZIM is the first carrier to introduce LNG capacity to the
Asia to US East Coast trade and
currently offers two services fully operated by these green
vessels, giving us a unique competitive position in this strategic
trade. As market conditions continue to evolve, we intend to remain
agile and are well positioned to capitalize on additional
attractive opportunities that will benefit ZIM both operationally
and financially."
The three-year agreement between ZIM and MSC includes slot swap
and vessel sharing agreements. The cooperation scope includes six
services with extensive connection between Asia to the US East Coast, West Coast of
Mexico, Caribbean ports and US Gulf ports, as detailed
in the proposed port rotations below[1]:
ZIM Seven Stars (Z7S): Singapore – Laem Chabang – Yantian –
Cai Mep – Singapore – Suez Canal – New York – Baltimore – Norfolk – Suez Canal – Singapore
ZIM Xpress Baltimore (ZXB): Singapore – Cai
Mep – Haiphong – Yantian –
Panama Canal – Cartagena –
Charleston – Savannah –
Jacksonville – New York – Baltimore – Suez Canal – Singapore
ZIM North Star (ZNS):
Pusan – Qingdao – Shanghai – Ningbo – Pusan – Panama Canal – New York – Norfolk – Baltimore – Panama Canal – Pusan
ZIM Container Service Pacific (ZCP): Nansha – Yantian –
Xiamen – Ningbo – Shanghai – Pusan – Manzanillo, MX – Panama Canal – Kingston – Savannah – Charleston – Wilmington – Kingston – Panama Canal – Nansha
ZIM Gulf Central China Xpress (ZGC): Ningbo – Shanghai – Pusan – Panama Canal – Mobile – Houston – New
Orleans – Miami –
Freeport – Panama Canal – Rodman –
Ningbo
ZIM South Lotus (ZSL): Cai
Mep – Xiamen – Yantian –
Pusan – Lazaro Cardenas – Panama Canal – Houston – Mobile – Tampa – Miami
– Suez Canal – Cai Mep
ZIM will continue operating two independent services to the
Pacific Southwest (PSW): ZEX and ZX2, offering extensive connection
from Vietnam and China to the US West Coast.
ZIM E-Commerce Xpress (ZEX): Cai Map – Yantian –
Los Angeles – Cai Mep
ZIM Central China Xpress (ZX2): Shanghai –
Ningbo – Los Angeles – Shanghai
ZIM will also continue its existing agreement with MSC to the
Pacific Northwest (PNW), under ZNP service:
ZIM North Pacific (ZNP): Yantian – Shanghai – Qingdao – Pusan – Vancouver –Yantian
[1] Port rotations are subject to geopolitical and other
circumstances.
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 33,000 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 (including as a
result of the continued situation in the Red Sea), 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, including the ongoing war
between Israel and Hamas, the
increased tension between Israel
and Iran and its proxies, in
particular the ongoing hostilities between Israel and Hezbollah, 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 2023 Annual Report filed
with the SEC on March 13, 2024.
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
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SOURCE Zim Integrated Shipping Services Ltd.
