China Shipping will set up own agency in Israel

China shipping, the giant Chinese shipping company, announced last week its decision to set up its own shipping agency jointly with its present local agent – Intermaritime. The new agency: China Shipping Agency (Israel) Co. Ltd will commence at the end of 2005.
 
The decision to set up it own agency is in line with the company strategic decision to widen its involvement in the Israeli market.
 
In August China Shipping introduced it's Israeli Mediterranean - AMAX Service with the call of M/V XIN YANG ZHOU, the company's vessel, at the port of Haifa. The arrival of the vessel marked the company's first round the world service, linking ports in the Far East with Israel and from Israel, through South European ports, to the east coast of the USA.
 
Unconfirmed reports say that China Shipping will hold 60% of the joint agency. The balance will be split 20% by the Allalouf group and 20% by Mr. Kohn the present director general of Intermaritime.