ZIM Integrated Shipping Services Ltd. (ZIM) operates as global container liner shipping company. The company provides customers with seaborne transportation and logistics services.
The company's main focus is to provide best-in-class service for its customers. The company operates and innovates as a truly customer-centric organization, constantly striving to provide a best-in-class product offering.
As of December 31, 2024, the company operated a fleet of 145 vessels and chartered-in approxima...
ZIM Integrated Shipping Services Ltd. (ZIM) operates as global container liner shipping company. The company provides customers with seaborne transportation and logistics services.
The company's main focus is to provide best-in-class service for its customers. The company operates and innovates as a truly customer-centric organization, constantly striving to provide a best-in-class product offering.
As of December 31, 2024, the company operated a fleet of 145 vessels and chartered-in approximately 89.9% of its TEU capacity and 90.3% of the vessels in its fleet. The company's fleet includes ten 15,000 TEU and eighteen uniquely designed 8,000-class TEU LNG (liquefied natural gas dual-fuel) container vessels, which it charters on a long-term basis. Between 2021 and February 2025, the company completed the purchase of fourteen second-hand container vessels, so that on March 1, 2025, it owned a total of 15 vessels in its operated fleet, including one vessel it had previously owned prior to these acquisitions.
As of December 31, 2024, the company chartered-in most of its capacity; in addition, 73.3% of its chartered-in vessels are under leases with a remaining charter duration of more than one year, or 83.7% in terms of TEU capacity. The company continues to adjust its operations in response to the effects of global and regional geopolitical and economic events, including the Houthi attacks on the Red Sea, the Israel-Hamas and Russia-Ukraine wars, the long-term effects of the COVID-19 pandemic, and other recent geopolitical trends. Its fleet, mainly in terms of the size of its vessels, enables the company to optimize vessel deployment to match the needs of both mainlane and regional routes, ensuring high utilization of its vessels and specific trade advantages. The company's operated vessels have capacities that range from less than 1,000 TEUs to 15,000 TEUs. Furthermore, the company operates a modern and specialized container fleet, which it significantly increased during 2024. Its current container fleet capacity reaches approximately 1.1 million TEUs.
The company operates across five geographic trade zones that provide it with a global footprint. These trade zones include (for the year ended December 31, 2024, of carried TEUs): (1) Transpacific (42.8%), (2) Atlantic (14.8%), (3) Cross Suez (8.8%), (4) Intra-Asia (19.9%), and (5) Latin America (13.7%). These zones encompass both trade lanes where the company has in-depth knowledge, a long-established presence, and an outsized market position, as well as new trade lanes into which it is often driven by demand from its customers, as these lanes are not serviced in full by its competitors. Several examples of niche trade lanes within the company's geographic trade zones include: (1) the U.S. East Coast & Gulf to Mediterranean lane (Atlantic trade zone) where it maintains a 9.4% market share, (2) the East Mediterranean & Black Sea to Far East lane (Cross Suez trade zone) with a 7.9% market share, and (3) the Far East (not including the Indian subcontinent) to U.S. East Coast & Gulf (Pacific trade zone) with a 10.7% market share, in each case according to the Port Import/Export Reporting Service (PIERS) and Container Trade Statistics (CTS).
The company announced the following main newly launched services and service upgrades: (1) an independent service connecting Asia to the U.S. via Vancouver (ZPX), which is currently suspended; (2) a new premium express service connecting China and Los Angeles (ZX2); (3) new strategic operational cooperation with MSC covering six services on the transpacific trade, replacing the previous agreement with the 2M Alliance; and (4) the restructuring of the cross-Atlantic service in cooperation with Hapag-Lloyd.
In addition to containerized cargo, in an effort to respond to increased demand for car carrier services, and specifically to the increase in vehicle exports from China (and electric and hybrid cars in particular), the company transports vehicles (such as cars, buses and trucks) via dedicated car carrier vessels westbound from Asia, and primarily from China, Japan and South Korea. The company charters fifteen car carrier vessels and it has expanded the volume and its range of services to include additional calls to ports in Europe, the Mediterranean and South America. Despite the uncertainty caused by the geopolitical situation, the outlook for the car carrier industry remains relatively positive. Global auto sales and intercontinental trade continue to grow, albeit at a slower pace than in previous years. Combined exports from Asia continue to be over one million vehicles per month. In 2025, car carrier fleet growth is estimated to continue, with an anticipated increase of approximately 10% capacity by year end.
As of December 31, 2024, the company operated a global network of 56 weekly lines, calling at approximately 330 ports and delivering cargo to and from more than 100 countries. Its complex and sophisticated network of lines allows it to be agile in identifying markets in which to compete. Within this global network, the company offers value-added and tailored services, including operating several logistics subsidiaries to provide complementary services to its customers. The company continues to develop its network of additional logistics companies to provide comprehensive services to its customers. These subsidiaries, which the company operates in countries, such as China, Vietnam, Canada, Brazil, India, Singapore, Hong Kong, and the U.S., are asset-light and provide services, such as land transportation, customs brokerage, LCL, project cargo, and air freight services. Out of ZIM’s total volume in the twelve months ended December 31, 2024, approximately 17% of its TEUs carried utilized additional elements of land transportation.
The company's network is significantly enhanced by cooperation agreements with other container liner companies and alliances, allowing it to maintain a high degree of agility while optimizing fleet utilization by sharing capacity, expanding its service offerings, and benefiting from cost savings. Such cooperation agreements include vessel sharing agreements (VSAs), slot purchases, and slot swaps. In September 2024, the company entered into a strategic collaboration with MSC, which became effective in February 2025, replacing its previous agreement with the 2M Alliance that terminated in January 2025. The new agreement covers six services on the Asia-U.S. East Coast and the Asia-U.S. Gulf Coast, amounting to approximately 23,000 weekly TEUs. Prior to this agreement, the company also entered into an operational cooperation with MSC in September 2023, originally encompassing seven services on the Southeast Asia-Oceania, India-East Mediterranean (currently rerouted), and East Mediterranean-North Europe trades, of which it currently jointly operates three (one in the Southeast Asia-Oceania trade and two on the East Mediterranean-North Europe trade). In addition to these collaborations, the company maintains a number of partnerships with various global and regional liners in different trades. For example, in the Intra-Asia trade, it partners with both global and regional liners to extend its services in the region.
The company has a highly diverse and global customer base with approximately 32,700 customers, considering each customer entity separately, including instances where the entity is a subsidiary or branch of another customer, or on a non-consolidated basis. In 2024, its 10 largest customers represented approximately 14% of its freight revenues, while its 50 largest customers accounted for approximately 31% of its freight revenues. One of the key principles of the company's business is its customer-centric approach, and it strives to offer value-added services designed to attract and retain customers. Its strong reputation, high-quality service offering, and schedule reliability have generated a loyal customer base, with 8 of its 10 top customers in 2024 having a relationship with the company lasting longer than 10 years.
The company has focused on developing industry-leading and best-in-class technologies to support its customers, including improvements in its digital capabilities to enhance both commercial and operational excellence. It uses technology and innovation to power new services, improve the customer experience, and enhance productivity and portfolio management. Several additional examples of its digital services include: ZIMonitor, an advanced tracking device that provides 24/7 online alerts to support high-value cargo; eZIM, an easy-to-use online booking platform; eZQuote, a digital tool that allows customers to receive instant quotes with a fixed price and guaranteed terms; Draft B/L, an online tool that allows export users to view, edit, and approve their bill of lading online without speaking with a representative; and ZIMGuard, an artificial intelligence-based internal tool designed to detect possible misdeclarations of dangerous cargo in real-time.
Furthermore, the company has formed a number of partnerships and collaborations with start-ups for the development of multiple engines of growth that are adjacent to its traditional container shipping business. To support and enhance its commercial partnerships and investments in technology companies, the company has established a ZIM team of professionals that specializes in the ecosystem of investing and collaborating with early-stage technology companies. This team functions as a corporate venture capital (CVC) group, dedicating a substantial part of their time to such CVC activities. The members of this CVC team support the company’s portfolio companies throughout the life cycles of their businesses, starting from identifying promising startups that are synergistic to the company’s business, conducting due diligence over potential investments, negotiating investment and commercial agreements with the company’s portfolio companies, and supporting them in additional investment and commercial transactions, often by holding board membership positions in such companies.
These technological partnerships and initiatives include ZIMARK, a new initiative in cooperation with Sodyo, an early-stage scanning technology company, aimed at providing visual identification solutions for the entire logistics sector, including inventory management, asset tracking, fleet management, shipping, and access control. The company made additional investments in Sodyo in 2022 and 2024. This technology is extremely fast and suitable for multiple types of media; the company's investment in and partnership with WAVE, a leading electronic bill of lading based on blockchain technology, to replace and secure original documents of title; the company's investment in Hoopo Systems Ltd. (Hoopo), a provider of cutting-edge tracking solutions for unpowered assets, as well as its agreement to deploy Hoopo’s tracking devices on ZIM’s dry-van container fleet; the company's investment in Ship4wd, a digital freight forwarding platform offering an online, simple, and reliable self-service end-to-end shipping solution, initially targeting small and medium-sized businesses importing and exporting from the U.S., Canada, the Far East, and Israel; the company's investment in Data Science Consulting Group (DSG), a leading technology company specializing in Artificial Intelligence-based products, solutions, and services, which developed e-volve, a holistic AI governance and decision management system, and co-created a center of excellence for the development of AI tools for the maritime shipping industry; (vi) 40Seas, an innovative fintech company serving as a platform for cross-border trade financing, in which the company has made an equity investment in addition to extending an approximate $100 million credit facility, with an option, subject to both parties’ agreement, to increase this credit facility up to $200 million; the company's investment in Pickommerce AI Robotics, which developed an innovative fully autonomous pick-and-pack station for the logistics industry. Pickommerce’s technology utilizes an advanced computer vision system powered by machine learning, enabling the safe and intelligent packaging of objects of different sizes, weights, and textures; the company's investment in Spinframe, which offers innovative vehicle-inspection systems that enable efficient anomaly detection from assembly to end user, and are capable of autonomously monitoring a large number of vehicles, both on land and at sea; the company's investment in the innovative bio-tech company Carbon Blue, a carbon dioxide removal company that harnesses water and water-utilizing infrastructure to remove CO2 from the atmosphere, allowing entire industries to reduce emissions and combat climate change while providing significant industrial co-benefits and a unique advantage in the circular economy of tomorrow; and the company's investment in Zutacore, an Israeli start-up with a patent-protected technology for waterless liquid cooling for high-performance AI processors, designed to preserve a large number of processors in the same space without overheating or harming their performance, all while reducing overall power usage.
Services
With a global footprint of more than 200 offices and agencies in over 100 countries, the company offers both door-to-door and port-to-port transportation services for all types of customers, including end-users, consolidators, and freight forwarders.
Comprehensive logistics solutions
The company offers its customers comprehensive logistics solutions to fit their transportation needs from door to door. Its wide range of transportation services, handled by highly trained sea and shore crews and supported by personalized customer service and a unified information technology platform, allows the company to provide higher quality and tailored services and solutions at any time around the world.
The company’s customers place orders either online or with a customer service member at one of its local agencies located around the world. It issues the bill of lading detailing the terms of the shipment, and in the case of a typical door-to-door order, delivers an empty container to the shipper’s designated address. Once the shipper has filled the container with cargo, it is transported to a container port, where it is loaded onto the company's cargo vessel. The company has experience in shipping various types of cargo, such as oversized cargo, dangerous and hazardous cargo, cars, trucks, vehicles, and reefer shipments. The container is shipped either directly to the destination port or via one of the company's scheduled ports of call, where it is transferred, or transshipped, to another ship. When the container arrives at the final destination port, it is off-loaded from the ship and delivered to the recipient or a designated agent via land transportation. The company partners with regional and local land transportation operators to provide a range of inland transportation services via rail, truck, and river barge, often combining multiple modes of transportation to ensure efficient and cost-effective operations with minimum transit time. Out of ZIM’s total volume in the twelve months ended December 31, 2024, approximately 17% of its TEUs carried utilized additional elements of land transportation. The company continuously strives to find logistic solutions for land transportation service offerings under the current market conditions.
The company also offers ZIMonitor, its premium reefer cargo tracking service. ZIMonitor is an advanced real-time monitoring device that, among other things, allows customers to monitor their shipments in real time.
Services and Geographic Trade Zones
As of December 31, 2024, the company operated a global network of 56 weekly lines, calling at approximately 330 ports and delivering cargo to and from more than 100 countries. Its shipping lines are linked through hubs that strategically connect main lines and feeder lines, which provide regional transport services, creating a vast network with connections to and from smaller ports within the vicinity of the main lines. The company's shipping lines are organized into geographic trade zones by trade.
Pacific geographic trade zone
The Pacific geographic trade zone serves the Transpacific trade, which covers trade between Asia, including China, Korea, Southeast Asia, the Indian subcontinent, and the Caribbean, Central America, the Gulf of Mexico and the east coast and west coast of the United States and Canada. The company’s services within this geographic trade zone also connect to Intra-Asia and Intra-America regional feeder lines, which provide onward connections to additional ports.
Pacific Northwest service. Based on information from Piers, approximately 45% of all goods shipped to the United States are transported via ports located on the west coast of the United States and Canada. This includes local discharge as well as delivery by train or trucks to their final destinations, primarily to the Midwestern United States and to the central and eastern parts of Canada. The company holds a position within the Pacific Northwest (PNW), via the Canadian gateway Vancouver, which enables it to serve the very large Canadian and U.S. Midwest markets quickly and efficiently. Its strategic relationships in these markets with Canadian National Railway Company, a rail operator, have allowed the company to obtain competitive rates and provide consistent, high-quality service to its customers. The company charters slots from MSC to serve the Pacific Northwest. In January 2024, it launched a new independent line connecting Asia and the U.S. through the Vancouver gateway (ZPX), which is currently suspended.
Pacific Southwest Coast service - During 2023 and 2024 the company relaunched two eCommerce Xpress high-speed services, the ZEX and ZX2, focusing on e-Commerce between Central and South China, Vietnam and Los Angeles.
Asia-U.S. All-Water service. With respect to the Asia-U.S. East Coast Trade, all-water refers to trade between Asia and the U.S. East Coast and Gulf Coast using marine transportation only, via the Suez or Panama Canal. Until January 2025, the company operated services in this trade in accordance with its agreement with the 2M Alliance, which was terminated and replaced by a strategic agreement with MSC. In accordance with the agreement with MSC, ZIM and MSC swap slots over a total of six services, four of which are on the Asia-U.S. East Coast (USEC) and two on the Asia-U.S. Gulf Coast (USGC). Two of the services are operated by ZIM, and one is a vessel sharing agreement. The company has deployed ten 15,000 TEU LNG dual-fuel vessels and eleven 8,000-class TEU LNG vessels on the ZIM-operated services under this agreement.
As of December 31, 2024, the company offered 11 services in the Pacific geographic trade zone, which had an effective weekly capacity of approximately 32,540 TEUs and covered all major international shipping ports in the Transpacific trade. Its services in the Pacific geographic trade zone accounted for 55% of its freight revenues from containerized cargo for the year ended December 31, 2024.
Cross-Suez geographic trade zone
The Cross-Suez geographic trade zone serves the Asia-Europe trade, which covers trade between Asia and Europe (including the Indian sub-continent) through the Suez Canal, primarily focusing on the Asia-Black Sea/East Mediterranean Sea sub-trade, which is one of its key strategic zones.
As of September 2023, the company covered seven services, including two services from the India subcontinent (ISC) to Israel and the East Mediterranean. However, due to the Yemeni Houthis’ attacks against vessels in the Red Sea, these services were terminated as the company rerouted its vessels from the Red Sea and the Suez Canal.
As of December 31, 2024, the company offered one service in the Cross-Suez geographic trade zone (currently rerouted), which had an effective weekly capacity of approximately 6,500 TEUs and covered all major international shipping ports in the East Mediterranean, the Black Sea, China, East and Southeast Asia, and India. The Cross-Suez geographic trade zone accounted for 12% of the company's freight revenues from containerized cargo for the year ended December 31, 2024.
Atlantic-Europe geographic trade zone
The Atlantic-Europe geographic trade zone serves the Atlantic trade, which covers trade between North America and the Mediterranean, along with Intra-Europe and Mediterranean trade. The company's services within this geographic trade zone also connect to Intra-Mediterranean and Intra-America regional feeder lines, which provide onward connections to additional ports. In February 2025, the company launched its restructured service in cooperation with Hapag-Lloyd in its Atlantic services, which have been established since 2014. Additionally, its cooperation agreement with MSC includes two joint services from Israel and the East Mediterranean to North Europe.
As of December 31, 2024, the company offered 9 services within the Atlantic-Europe geographic trade zone, with an effective weekly capacity of approximately 7,400 TEUs, covering major international shipping ports in the East and West Mediterranean, the Black Sea, Northern Europe, the Caribbean, the Gulf of Mexico, and the east and west coasts of North America. The Atlantic-Europe geographic trade zone accounted for 10% of the company's freight revenues from containerized cargo for the year ended December 31, 2024.
Intra-Asia geographic trade zone
The Intra-Asia and Asia-Africa geographic trade zone serves the Intra-Asia trade, which covers trades within regional ports in Asia, including the Indian subcontinent (ISC), Africa, and Oceania. The company's services within this geographic trade zone feed into the global lines of the Pacific and Cross-Suez trades. This geographic trade zone is characterized by extensive structural changes that the company has made to respond to changes in trade and market conditions.
The Intra-Asia market is highly fragmented, with many active carriers, all holding relatively small market shares. Local shipping companies have a significant presence within this trade, which is primarily serviced by relatively small vessels. However, larger vessels that operate in the intercontinental trade also serve this market and call at ports within the region. The company has operational agreements with many other shipping companies within this trade.
As of December 31, 2024, the company offered 23 services within the Intra-Asia geographic trade zone, with an effective weekly capacity of approximately 12,700 TEUs. This geographic trade zone accounted for 11% of the company's freight revenues from containerized cargo for the year ended December 31, 2024. The company's services within this trade zone cover major regional ports, including those in China, Korea, Thailand, Vietnam, and other ports in Southeast Asia, India, Africa, New Zealand, and Australia, and connect to shipping lines within its Cross-Suez and Pacific geographic trade zones.
Latin America Geographic Trade Zone
The company cooperates with other carriers within the regional services: it collaborates with Maersk via a vessel sharing agreement in the Asia-East Coast South America trade, and it works with other carriers on the Mediterranean-East Coast South America sub-trades mostly through slot purchases. Additionally, the company replaced several joint services with its newly launched service, ZIM Gulf Toucan (ZGT), connecting South America to the Gulf of Mexico. It also launched a second independent service, ZIM Albatross (ZAT), connecting China and Southeast Asia to the West Coast of South America. Furthermore, it introduced ZIM Colibri (ZCX), a new premium line from the South American West Coast to the U.S. East Coast, featuring an expedited connection and an emphasis on refrigerated cargo. These new services facilitated significant growth in the scope of the company's activities in the Latin America geographic trade zone during 2024.
As of December 31, 2024, the company offered 12 services within the Latin America geographic trade zone, along with a complementary feeder network that had an effective weekly capacity of approximately 10,000 TEUs. These services operated between major regional ports, including ports in Brazil, Argentina, Uruguay, Mexico, the Caribbean, Central America, China, the U.S. Gulf Coast, the U.S. East Coast, and the West Mediterranean, and connected to the company's Pacific and Atlantic-Europe services. The Latin America geographic trade zone accounted for 12% of the company's freight revenues from containerized cargo for the year ended December 31, 2024.
Types of cargo
Other Specialized cargo
The company offers specialized shipping solutions through a dedicated team of supply chain experts who design tailor-made solutions for its customers’ specific transportation needs. This team issues approvals and documentation, arranges for insurance, and provides other logistics services for all kinds of specialized cargo, including:
Out-of-gauge cargo: Cargo that is over-weight, over-height, over-length and/or over-width can present many challenges and issues relating to proper stowage, securing and handling. The company maintains its containers to the highest standards and offer premium third-party services relating to these particular challenges.
Dangerous and hazardous cargo: The company specializes in carrying dangerous and hazardous shipments safely in accordance with all applicable local and international rules and regulations. It ships a wide array of such cargo and employs dedicated teams of specialists in five offices around the globe who are specially trained to guide customers through every stage of the supply chain challenges. The company has also developed and implemented ZIMGuard, an innovative artificial intelligence-based screening software designed to detect and identify incidents of misdeclared hazardous cargo before loading onto vessels.
Reefer Cargo: Reefer cargo includes perishable goods, pharmaceuticals and electronics. The company's reefer specialists and merchant marine officers ensure the safe transport of reefer cargo with precise tracking and continuous monitoring throughout the cold chain. The company focuses on reefers as one of its growth engines. Additionally, as it strives to maintain the youngest reefer fleet in the industry, the company has recently invested in new custom-made reefer containers that are already equipped with its ZIMonitor capabilities, as well as in controlled atmosphere units designed to ship fresh produce cargo.
At the end of 2015, the company launched ZIMonitor, its premium reefer cargo tracking service. ZIMonitor is a device attached to the engine of the reefer, allowing customers to track and monitor sensitive, high-value cargo, such as pharmaceuticals, food, and delicate electronics. The device monitors various parameters, including GPS location, temperature, humidity, and unnecessary container door openings. Customers can opt to receive alerts regarding their shipment via text message or email.
Fleet
As of December 31, 2024, the company's fleet included 145 vessels (130 container vessels and 15 vehicle transport vessels), of which fourteen vessels were owned by the company and 131 vessels were chartered in. The operating fleet, including both owned and chartered vessels, had a capacity of 784,847 TEUs. The average size of the company's vessels is approximately 6,037 TEUs, compared to an industry average of 4,850 TEUs.
In January 2025, the company entered into a purchase agreement to acquire two 8,500 TEU vessels that were already chartered by it. To date, the company has taken possession and title to one of the vessels and expects to complete the acquisition of the second vessel by May 2025, resulting in a total ownership of sixteen vessels by that time. The company may consider purchasing additional second-hand vessels if it evaluates that such purchases are more suited to its needs than other available alternatives.
The company charters-in vessels under charter party agreements for varying periods. Its charter rates are negotiated and predetermined at the time of entry into the charter party agreement and depend on the market conditions existing at that time. As of December 31, 2024, all of the company's chartered vessel agreements consist of chartering-in vessel capacity for a given period of time against a daily charter fee, while the crewing and technical operation of the vessel is handled by its owner, including seven vessels chartered-in from vessel owners affiliated with Kenon. Subject to any restrictions in the applicable arrangement, the company determines the type and quantity of cargo to be carried as well as the ports of loading and discharging.
The company's vessels operate worldwide within the trading limits imposed by its insurance terms. As of December 31, 2024, the remaining average duration of its chartered fleet was approximately 46 months, based on the earliest date of redelivery. As of December 31, 2024, the company's fleet comprised vessels of various sizes, ranging from 1,000 TEUs to 15,000 TEUs. This diversity allows for flexible deployment in terms of port access and is optimally suited for deployment in the sub-trades in which the company operates.
Strategic Chartering Agreements
Long-term charter agreement for LNG-Fueled Vessels from Seaspan Corporation
In February 2021 the company and Seaspan Corporation entered into a strategic agreement for the long-term charter of ten 15,000 TEU liquified natural gas (LNG dual-fuel) container vessels. Pursuant to the agreement, the company will charter the vessels for a period of 12 years with the option to extend it by additional charter periods.
In addition, in July 2021, the company announced a second strategic agreement with Seaspan for a long-term charter with a consideration in excess of $1.5 billion for ten uniquely designed 8,000-class TEU LNG dual fuel container vessels, with an option for an additional five vessels, to serve across ZIM’s various global niche trades. Following the exercise of this option, the total number of vessels to be chartered under this second strategic agreement is fifteen. To date, all 15,000 TEU and all 8,000-class TEU LNG dual fuel container vessels have been delivered to the company. [1]
Long-term charter agreement for LNG-Fueled vessels from a shipping company affiliated with Kenon, its former major shareholder
In January 2022, the company entered into a new eight-year charter agreement with a shipping company affiliated with Kenon, which was its largest shareholder until December 26, 2024. Under this agreement, the company will charter three 8,000-class TEU LNG dual-fuel container vessels to be deployed in its global niche trades for a total consideration of approximately $400 million. The vessels were constructed at the Korean-based shipyard, Hyundai Samho Heavy Industries, and all vessels have already been delivered to the company.
Charter agreement with Navios Maritime Holdings Inc.
In February 2022 the company and Navios Maritime Holdings Inc. entered into a charter agreement for the charter of thirteen container vessels comprising of five second-hand vessels and eight newbuild vessels of total consideration of approximately $870 million. All of the vessels have been delivered and deployed on the company’s services. The charter period of the vessels is approximately 5 years.
Charter agreement with MPC Container Ships ASA and MPC Capital AG
In March 2022, the company and MPC Container Ships ASA, as well as MPC Capital AG, entered into a new charter agreement, according to which ZIM will charter a total of six 5,500 TEU wide beam newbuild vessels for a period of seven years. The vessels were constructed at a Korean-based shipyard, HJ Shipbuilding & Construction (formally known as Hanjin Heavy Industries & Construction Co.). To date, all vessels have been delivered.
Charter Agreement with A Non-Affiliated Third Party
In November 2024, the company entered into an agreement for the charter of four new-build 8,000 TEU scrubber-fitted container vessels, for periods ranging between five to seven years, scheduled to be delivered during the second half of 2026 and the first half of 2027.
Containers
As of December 31, 2024, the company held 606 thousand container units with a total capacity of approximately 1,080 thousand TEUs, of which 43% were owned by it and 57% were leased (including 46% accounted as right-of-use assets). In some cases, the terms of the company's leases provide that it will have the option to purchase the container at the end of the lease term.
Container Fleet Management
The company's global logistics team oversees the internal management of empty containers and equipment to support this optimization effort. In addition to repairing and maintaining its container fleet, its logistics team continuously optimizes the flow of empty containers based on commercial demands and operational constraints. Below is a summary of its logistics initiatives relating to container fleet management:
Slot Swap Agreements: The company enters into agreements with other carriers for the exchange of vessel space, or slots, for repositioning of empty containers. Under these agreements, other carriers offer ZIM space on their own operated vessels, in exchange for space on its vessels for the purpose of repositioning empty containers. ZIM has greatly developed this type of cooperation. The company has slot swap agreements with 16 carriers and exchange thousands of TEUs each year.
Slot sale agreements. The company sells slots on board its vessels to transport empty containers.
One-Way Container Lease: The company uses leasing companies and other shipping liners' empty containers to move cargo from locations with increased demand to over-supplied locations. The company is a global leader in one-way container volumes.
Equipment Sub-Leases: The company leases its equipment to other carriers and freight forwarders in order to reduce its container repositioning and evacuation costs.
In January 2024, the company entered into an agreement with Hoopo to deploy Hoopo’s tracking device on ZIM’s dry-van container fleet, which offers the company's customers comprehensive tracking information, including geofence alerts, open/close door notifications, and more.
Operational Partnerships
The company is party to a large number of cooperation agreements with other shipping companies and alliances, which generally provide for the joint operation of shipping services by vessel sharing agreements, the exchange of capacity and the sale or purchase of slots on vessels operated by the company or other shipping companies.
Strategic Cooperation Agreement with the 2M Alliance
In April 2022, the company amended and extended its agreement with the 2M Alliance to include the extension of its collaboration on the Asia-U.S. East Coast (USEC) and Asia-U.S. Gulf Coast (USGC) under a full slot exchange and vessel sharing agreement, originally established in September 2018 and August 2019, respectively. The strategic cooperation on the Asia-USEC included a joint network of five loops between Asia and USEC, one of which was operated by the company (ZCP), while four were operated by the 2M Alliance. In addition, the company and the 2M Alliance agreed to swap slots on all five loops under the agreement, and the company could purchase additional slots in order to meet total demand in these trades. The strategic cooperation on the Asia-USGC included two services, one of which was operated through a vessel sharing agreement, and the other operated by the 2M Alliance. Under the company's amended collaboration agreement with the 2M Alliance, the company or the 2M Alliance were entitled to terminate the agreement by providing a six-month prior written notice following the initial 12-month period from the effective date of the agreement (April 2022). The company's agreement with the 2M Alliance was terminated in January 2025, following the termination of the 2M Alliance.
Strategic Cooperation Agreement with MSC
In September 2024, the company entered into a strategic agreement with MSC, replacing its previous agreement with the 2M Alliance, which became effective in February 2025. The agreement includes a vessel sharing agreement and slot swap on a total of six services in the same two subtrades as the company's former agreement with the 2M Alliance. Pursuant to the agreement, the company or MSC may terminate the agreement by providing a six-month prior written notice following the initial 30-month period. This strategic cooperation enables the company to provide its customers with improved port coverage and transit time, while generating cost efficiencies.
Operational Collaboration Agreement with MSC on Multiple Trades
In July 2023, the company entered into a new slot charter agreement with MSC on the Asia-PNW trade. In September 2023, the company entered into new operational agreements with MSC, originally encompassing several trades and seven service lines. The cooperation scope includes services connecting the Indian Subcontinent with the East Mediterranean (terminated due to the Houthis’ continued attacks in the Red Sea), the East Mediterranean with Northern Europe, and services connecting East Asia with Oceania. The joint services include a vessel sharing agreement, slot swaps, and slot purchase arrangements. The company operates three of the services jointly with MSC, with one on the East Asia – Oceania trade and two on the East Mediterranean with Northern Europe trade.
Customers
In 2024, the company had more than 32,700 customers (on a non-consolidated basis) using its services.
The company intends to continue to strengthen its relationships with its key customers and to increase its direct sales to small- and medium-sized enterprises, or SMEs, which it defines as customers that ship up to 200 TEUs annually. The company has increased its global deployment of services and presence by both establishing new local agencies and strengthening its partnerships, primarily in Southeast Asia, South America, Africa, Australia, and New Zealand.
The company's customers are divided into end-users, including exporters and importers, and freight forwarders. Exporters include a wide range of enterprises, from global manufacturers to small family-owned businesses that may ship just a few TEUs each year.
Global Sales
The company's sales force is generally organized by customer or cargo type and is supported by data-driven analytics to better understand its customers and address their needs while maintaining desired profitability levels. The company manages over 91% of its business on a unified information technology platform (CRM), which supports all its business processes. Operating on this unified platform enables the company's sales teams to quickly and consistently deliver solutions to their customers. During 2024, the company upgraded its CRM system to a more improved and advanced version that enables it to further enhance its service and provide a personal approach to its customers.
The company has dedicated strategic accounts teams located in its headquarters in Haifa, supported by regional teams, working directly with its strategic accounts, such as international freight forwarders and end-users. The sales team in the company's headquarters works directly with sales executives in either owned, partially owned, or contracted local agencies, which perform its primary sales and marketing functions and manage customer relationships on a day-to-day basis. The company has the ability to provide proactive and differentiated service levels to its strategic accounts in Asia and the U.S.
Vessel Owners
As of December 31, 2024, the company chartered approximately 89.9% of its TEU capacity and 90.3% of the vessels in its fleet.
Port operators
The company has Terminal Services Agreements (TSAs) with terminal operators and contractual arrangements with other relevant vendors to conduct cargo operations in the various ports and terminals that it uses around the world.
Bunker and LNG suppliers
The company has contractual agreements to purchase approximately 85% of its annual bunker estimated requirements with suppliers at various ports around the world.
Land Transportation Providers
The company has services agreements with third-party land transportation providers, including providers of rail, truck, and river barge transport. The company is a party to a rail services agreement with some of the Class-1 service providers to main inland locations in the U.S.A. and Canada.
Regulatory Matters
A variety of governmental and private entities subject the company's vessels to both scheduled and unscheduled inspections. These entities include the local port authorities' Port State Control (such as the U.S. Coast Guard, harbor master or equivalent), classification societies, flag state administration (country of registry), particularly terminal operators. Certain of these entities require the company to obtain certain permits, licenses, financial assurances and certificates with respect to the company's vessels.
The company is subject to international conventions and treaties, as well as national, state, and local laws and national and international regulations in force in the jurisdictions in which its vessels operate or are registered, relating to the protection of the environment. Such requirements are subject to ongoing developments and amendments and relate to, among other things, the storage, handling, emission, transportation, and discharge of hazardous and non-hazardous substances, such as sulfur oxides, nitrogen oxides, and the use of low-sulfur fuel or shore power voltage, as well as the remediation of contamination and liability for damages to natural resources. These laws and regulations include OPA 90, CERCLA, the CWA, the U.S. Clean Air Act of 1970 (including its amendments of 1977 and 1990) (CAA), and regulations adopted by the International Maritime Organization (IMO), including the International Convention for the Prevention of Pollution from Ships (MARPOL) and the International Convention for the Safety of Life at Sea (the SOLAS Convention), as well as regulations enacted by the European Union and other international, national, and local regulatory bodies.
The company is certified in accordance with ISO 14001-2015 (relating to environmental standards).
The company's vessels are subject to standards imposed by the IMO, the United Nations agency for maritime safety and the prevention of pollution by vessels.
The SOLAS Convention was amended to address the safe manning of vessels and emergency training drills. The Convention of Limitation of Liability for Maritime Claims (the LLMC) sets limitations of liability for a loss of life or personal injury claim or a property claim against ship owners.
Both OPA and CERCLA impact the company's operations. The company has received certificates of financial responsibility from the U.S. Coast Guard for each of the vessels in the company's fleet that calls the U.S. waters.
The company is also subject to Israeli regulation regarding, among other things, national security and the mandatory provision of the company's fleet, environmental and sea pollution, and the Israeli Shipping Law (Seamen) of 1973, which regulates matters concerning seamen, and the terms of their eligibility and work procedures.
The company has developed and implemented a fleet-wide action plan to comply with the MLC to the extent applicable to the company's vessels.
The company has implemented the various security measures required by the IMO, SOLAS and the ISPS Code and have approved ISPS certificates and plans certified by the applicable flag state on board all the company's vessels.
In the U.S., the Ocean Shipping Reform Act of 2022 (OSRA) signed into law in June 2022 requires the company and all other carriers to immediately implement certain requirements in detention and demurrage invoices.
The company's operations between the United States and non-U.S. ports are subject to the provisions of the U.S. Shipping Act of 1984, or the Shipping Act, which is administered by the Federal Maritime Commission (FMC).
The company's operations involving the European Union are subject to EU competition rules, particularly Articles 101 and 102 of the Treaty on the Functioning of the European Union, as modified by the Treaty of Amsterdam and Lisbon. Article 101 generally prohibits and declares void any agreement or concerted actions among competitors that adversely affect competition.
The company's operations involving the European Union are subject to E.U. competition rules, particularly Articles 101 and 102 of the Treaty on the Functioning of the European Union, as modified by the Treaty of Amsterdam and Lisbon.
The company's operations in Israel are subject to Israeli competition rules, primarily the Israeli Economic Competition Law, 1988, or the Israeli Competition Law, and the regulations and guidelines thereunder.
History
ZIM Integrated Shipping Services Ltd. was founded in 1945. The company was incorporated in 1945.
