ZIM Integrated Shipping Services and the members of the 2M Alliance, Maersk Line and Mediterranean Shipping Company (MSC), announced a new strategic cooperation on the Asia – U.S. East Coast trade.
At present, MSC and Maersk Line operate five loops and ZIM operates two loops on the trade.
Starting early September 2018, the parties will operate together five loops between Asia and the U.S. East Coast. ZIM will operate one loop while the other four are operated by 2M. The parties will swap slots on all loops.
Eli Glickman, President and CEO of ZIM, said, “The agreement will significantly improve our services on this important trade, where we remain a major player as part of our strategy. 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.
“We will continue to be independent, building on our personal links with our customers, for which we are so well known in addition to our ongoing technological initiatives such as our successful blockchain project.
“We will continue to service all trades in our current network - with even better service links and transit times. Our customers will continue to benefit from ZIM’s exceptional level of service, now with an improved product.”
The cooperation is scheduled to begin in early September 2018, subject to all needed regulatory approvals. The term of the cooperation is seven years. The parties expect to disclose more information about network changes and schedules on the trade as soon as possible.