Israel Corp. transferred additional US$100 million to Zim

The owner's loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million
06.07.09 / 00:00
Israel Corp. transferred additional US$100 million to Zim
06.07.09
Israel Corp. transferred additional US$100 million to Zim
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The owner's loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million
 
Israel Corporation said last week it had extended an additional US$100 million owner's loan to troubled shipping holding Zim Integrated Shipping Services Ltd.
 
The loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million to help the troubled Israeli carrier survive tumbling cargo volume and sliding freight rates.
 
Zim announced that first quarter 2009 losses widened to US$119 million from US$29 million in the year-earlier period and revenue shrank to US$622 million from just over US$1 billion. It lost US$322 million in 2008.

 

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>ZIM Integrated Shipping Services announced emergency bunker fee/29.06.09 >Ofer family buys 13 cargo ships/29.06.09 >Zim to up rates from Asia to Europe & Mediterranean/15.06.09 >Israel Corp. lends Zim US$ 50M/08.06.09 >Zim reported US$119 Million loss for Q1/01.06.09 >Zim to improve EMX service/01.06.09 >Philippine press: Zim containers seized following lawsuit/01.06.09 >CSCL in $100m commercial dispute with Zim Lines/11.05.09 >ZIM to compensate CSBC for canceled orders for six container ships/11.05.09 >Israeli security guards defend MSC cruise ship ‘Melody’/04.05.09