Cars drive behind a truck transporting a Zim container just outside Israel's port of Ashdod February 23, 2012.
(photo credit: AMIR COHEN/REUTERS)
Israel-based shipping giant Zim Integrated Shipping Services has joined into a partnership with the 2M Alliance, one of the world’s largest shipping groups, to open trade lines between the east coast of the United States and Asia.
The 2M Alliance includes Maersk Line and Mediterranean Shipping Company. Starting in September, the companies will operate five loops between Asia and the US east coast. Zim will operate one loop and 2M will operate four loops, and the parties will swap slots on all loops.
The new cooperation offers Zim’s customers a more comprehensive product portfolio, with a wider range of direct calls in Asia and the US and faster transit time. In addition, it is expected to generate cost efficiencies for Zim.
The agreement is considered a feather in the cap of Zim CEO and president Eli Glickman
, who has worked during his one-year tenure to increase the company’s global reach. Zim has tried for nearly 20 years to join the alliance. Like airline companies, shipping companies form alliances to cut down on costs and increase efficiency.
The agreement will significantly improve our services on this important trade, where we remain a major player as part of our strategy,” said Glickman. “It is a vote of confidence by the two largest players in the industry, acknowledging Zim’s capabilities, reliability and strength. Furthermore, it will enable Zim to achieve operational efficiencies and ensure our ability to maintain a leading position on the trade.”