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Zim to join Transpacific Stabilisation Agreement
POSTED: 8:44 a.m. EDT, May 15,2007
ZIM Integrated Shipping Services will become the 14th member of the Transpacific Stabilisation Agreement (TSA), a research and discussion group of container lines that serve the Asia-US trade.
"We're pleased by Zim's vote of confidence in TSA's new structure and the shift in how we engage with the shipping community to provide improved insight into market dynamics shaping the transpacific trade," said TSA chairman Ron Widdows, who is also chief executive officer of Singapore-based carrier APL. "We believe this new, more transparent approach, with growing carrier and shipper support, will enable shippers to better plan for their supply chain needs and carriers to more efficiently plan their services to meet those needs."
Mr Widdows expressed confidence that by providing timely information TSA will help carriers cope with the common problems of terminal congestion, labour negotiations and rail infrastructure shortcomings in the Asia-US freight market in the short-and long term.
Based in Haifa, Zim operates a fleet of 100 vessels with a capacity of 240,000 TEU, calling at 180 ports.
A statement from TSA said that Zim joins the group at a time when analysts and shipping lines anticipate robust cargo volumes in the 2007 peak season, with utilisation levels expected to reach mid- to high 90 per cent levels by June, and remain at or above these levels throughout the peak season.
TSA members include APL, HMM, "K" Line, CMA CGM, Cosco Container Lines, MOL, Evergreen Marine, NYK Line, Hanjin Shipping, OOCL, Hapag Lloyd, and Yangming Marine. |
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