ZIM: Update on Operational Cooperation Agreement with 2M Partners

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ZIM updated on the status of its discussions with its 2M alliance partners in connection with their operational cooperation agreement.

ZIM and the 2M alliance partners have agreed, in principle, to extend their existing operational collaboration agreement on the Asia – US East Coast and Asia – US Gulf Coast trades based on a full slot exchange and vessel sharing agreement (subject to finalizing the related documentation and to regulatory approval). The new agreement is expected to be concluded by the beginning of February 2022 and become effective on April 1, 2022.

In addition, ZIM will launch ZIM Med Pacific (ZMP), an independent pendulum service designed to address its customers’ needs on the Asia to Mediterranean and Pacific North-West (PNW) trades, and the current collaboration with the 2M partners on these trades will be terminated (effective April 1, 2022).

Eli Glickman, ZIM President & CEO, stated: “Over the past several months, we have secured the necessary short- and long-term capacity to allow us to meet growing demand and competitively serve our customers, particularly on the various transpacific routes, a key trade for ZIM. We are pleased to continue our collaboration with the 2M partners on the Asia to USEC and USGC trades and to launch a new, independent pendulum service to connect the Far East with the Mediterranean and the PNW. The combined new operational mode, will allow for better operational agility and provide fast and synchronized connections to ZIM’s regional networks in the Mediterranean, Asia and the Pacific to provide our customers the variety and level of service to best serve their needs.”

Glickman added: “In recent years, we have strengthened our capabilities, revolutionizing our service offerings and digitalized tools to enhance our commercial opportunities and transform ZIM into an industry leader. Capitalizing on our improved financial position, we have also advanced our operational capabilities, boosted our capacity and secured access to state-of-the-art LNG container vessels. With this commercial and operational transformation, driven by our innovative spirit, we are confident that ZIM is well-positioned to realize its mission of delivering innovative shipping services to its customers to successfully compete in the market, and deliver superior returns to shareholders.”