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ZIM & 2M extend cooperation agreement

ZIM will share vessels and exchange slots with 2M on services from Aisa to the Mediterranean and the Pacific North West.

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ZIM and 2M have extended their cooperation agreement in the Asia-US East Coast trade to cover two strings on two further services: Asia - East Mediterranean and Asia - American Pacific Northwest.

 

The announcement is further good news for ZIM, which finished Q3 in 2018 with a net profit of US$1.3M, reversing a US$20.6M loss in Q3 2017. ZIM CEO Eli Glickman welcomed the new cooperation agreement: “This is a major strategic step, upgrading ZIM’s competitiveness. it’s a game-changer,” he said.

 

The new strategic operational agreement will be a combination of vessel sharing, slot exchange and purchase. In each trade, two strings will be operated in cooperation, as follows:

 

Asia - East Mediterranean:

Sirius Line (ZAS) - Xingang – Dalian – Pusan – Shanghai – Ningbo – Shekou – Singapore – Port Said East – Haifa – Port-Said East – Singapore – Xingang

Spica Line (ZMS) - Pusan – Shanghai – Ningbo – Shekou – Singapore – Port Said East – Yarimca – Istanbul – Asyaport – Piraeus – Singapore – Shekou – Pusan

 

Asia - Pacific Northwest:

ZIM Pacific Pollux (ZP9) - Kaohsiung – Xiamen – Yantian – Ningbo – Shanghai – Busan – Vancouver – Seattle - Yokohama – Busan – Kaohsiung

ZIM Pacific Procyon (ZP8) - Xingang – Qingdao – Shanghai – Busan – Yokohama – Prince Rupert – Xingang

 

The new services are due to start from Asia in March, subject to FMC and other regulatory approvals. ZIM is also planning to launch a “new array of exclusive, ZIM-operated feeder lines synchronized with the mainliners and catering to the regional market in a comprehensive and efficient way” in the east Mediterranean, details of which have not been released so far.

 

“We are very proud to team up with the two largest players in the industry and to expand our cooperation with the 2M Alliance,” said ZIM President & CEO Eli Glickman. “The new strategic Agreement means faster and more efficient service with better geographic coverage and extended direct port calls for the benefit of our customers, in line with our vision to provide best-in-class service. We will significantly increase our ability to provide the ‘best of both worlds’: top-level line coverage combined with our exceptional customer service and personal touch. The agreement is a game-changer, and I am confident it will support ZIM’s growth and profitability.”

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