Zim Line

Zim puts the geared-up port of Oakland in the fast transpacific lane

Zim is extending its footprint in the fast shipping lane between Asia and North America.
By the end of the month, the carrier intends to start an expedited transpacific service from Taiwan and China to California.
It will deploy vessels with about 4,250 teu capacity on a weekly run from Kaohsiung, via Ningbo and Shanghai, to Oakland and Los Angeles.
And it marks the carrier’s third expedited transpacific operation since the launch of …

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‘Revitalised’ Zim reports biggest profit in its 75-year history

Israeli ocean carrier Zim has posted its first annual profit for three years – and the biggest in its 75-year history – recording a net income of $524m for 2020 and claiming it is a “revitalised company”.
Zim carried an-above industry par 0.7% more containers last year than in 2019, at 2,841,000 teu, and revenue jumped 21%, compared with the previous year, to $4bn, for an ebitda of $1.04bn, up from $399m …

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Zim invests in Wave BL blockchain tech in drive for paperless shipping

Israel’s Zim and one of the country’s leading investors, Marius Nacht, have together pumped $8m into blockchain developer Wave BL in a series B fundraising.
The investment will be used to “accelerate global implementation of Wave BL’s proven technology”, which uses blockchain to produce electronic bills of lading.
Zim issued its first paperless e-B/L in 2017, using Wave BL’s platform, and has since widely expanded its use to shippers globally.
Chief information officer …

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Zim agrees long-term charters for ten LNG boxships for alliance loop

Israeli carrier Zim has agreed 12-year charters with non-operating containership owner Seaspan for ten 15,000 teu LNG-fuelled vessels. 
The ships will be constructed at the South Korean yard of Samsung Heavy Industries, which will commence deliveries in the first half of 2023. 
Zim said the vessels would be deployed on the Asia-US east coast trade, where it has a vessel-sharing agreement with the 2M Alliance. 
President and chief executive Eli Glickman said the deal represented “a …

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Containership schedule reliability at lowest level since records began

Global container service scheduled reliability has declined to its lowest levels since records began, according to new data from SeaIntelligence Consulting.
The analyst’s latest schedule reliability data for December shows just 44.6% of vessels arriving on time, “which means that for the fifth consecutive month, global schedule reliability has been the lowest across all months since Sea-Intelligence introduced the benchmark in 2011”.
It said December’s reliability index, which covers global...

https://theloadstar.com/containership-schedule-reliability-at-lowest-level-since-records-began/

On the wires: Stretched Zim & wealthy OOCL hunting for new blood

Expect container shipping plays on the world’s stock exchanges to increase in frequency as carriers look for more sources of free money and investors look for new ways to take part in the supply chain boom.
Israel’s Zim Integrated Shipping Services filed its updated IPO prospectus last week, outlining its goal of selling 17.5m shares at between $16 and $19 per share (at the high end of the rage, Zim will …

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Two new moves in Alibaba’s bid to build a global logistics network

Chinese e-commerce giant Alibaba’s quest to “build a global logistics network” took several steps forward over the weekend.
The firm signed a cooperation agreement with Israeli shipping carrier Zim and its express arm, AliExpress, launched a cross-border supply chain solution for bulk items.
The Zim and Alibaba agreement builds on an earlier cooperation this year which allows Alibaba customers to book shipments directly with the carrier,  and the two companies discovered that …

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Banking executive Yair Seroussi joins ZIM as chairman

ZIM Integrated Shipping Services has appointed Yair Seroussi (pictured) as its new chairman following a shareholder meeting held earlier today.
He replaces Aharon Fogel, who is stepping down after serving more than six years as the company’s chairman.
Mr Seroussi’s background is largely in banking – he was head of Morgan Stanley Israel between 1993 and 2009, before moving to Bank Hapoalim, Israel’s largest bank, where he was chairman until 2016.
Currently, Mr …

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Zim to enter Asia-Australia container trade despite Sydney port woes

Israeli carrier Zim is pressing ahead with entering the Asia-Australia trade despite the high levels of container congestion being witnessed at its main gateway ports.
After weeks of industrial action, coupled with bad weather that has affected shipping schedules and a mounting trade imbalance, Australian ports, particularly Sydney, are struggling to clear a severe cargo backlog.
However, Zim announced today that it will launch its new China Australia Express (CAX) service in …

The post Zim to...

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