Co-operation will assist companies in making cost savings. Cosco is about to open a permanent office in Israel.
The heads of Zim and the Chinese shipping company Cosco today agreed in principle on co-operation over the opening of joint shipping lines, which will save costs for both companies. Cosco is the largest shipping company in the world. Zim general manager Yoram Zova told "Globes" today that the agreement in principle was reached during talks which took place with the heads of Cosco at the same time as the visit to Israel of the Chinese minister of transport.
Zova said that Zim is proposing six potential shipping lines, and Cosco is proposing four potential joint shipping lines. All the lines are in the USA and the Far East.
Co-operation between Zim and Cosco will be direct and not via agencies. Zova said that Cosco announced today the opening of a permanent office in Israel.