Zim sold two more ships

The current deal is Zim's third since the change in ownership. Earlier this year the company sold four ships for $140 million, on which Israel Corp. made a capital gain of NIS 175 million
01.11.04 / 00:00
Zim sold two more ships
01.11.04
Zim sold two more ships
•

Zim lines reported to have sold two ships to third parties for $75.5 million, and will lease them back in a six-year contract.
 
Israel Corp. Zim's holding company will earn a NIS 85 million capital gain on the deal, which will be reported to the tax authorities in the company's financial report for first quarter of 2005, when the deal is completed.
 
The current deal is Zim's third since the change in ownership. Earlier this year the company sold four ships for $140 million, on which Israel Corp. made a capital gain of NIS 175 million.
 
Including the latest deal, Zim has sold ships worth $215.5 million, on which Israel Corp. will make an capital gain of NIS 260 million.

More articles that may interest you
Minister of Finance Netanyahu: Joining the OECD is a matter of strategic importance in the process of positioning the Israeli economy among the developed and advanced economics of the world, attracting international investments, and influencing the global
Ministry of Finance Releases 2003 Annual Report on Israel's Activity in the OECD
Mr.Christoph Franz, president of Swiss International Air Lines will arrive in Israel on November 2nd on board Swiss flight LX254, the first flight to use Ben Gurion's new international terminal 3
Swiss president fly in on historic inaugural flight to Ben Gurion's terminal 3
An increase of 4% in cargo moving through the ports, compared with the same period last year, was registered during the nine months period ( January – September )
4% increase in cargo movement during first 9 months
The complicated and fully synchronized transportation process was handled by the highly experienced exhibition department of "Amit Logistics" in close co-operation with " Ordan Cargo" Elinoar Fridan
" Turkish Delights" exhibition returned home
The Central Bureau of Statistics ( CBS ) published last week its prediction for 2004 indicating that Israel's economy is growing, with urging exports, and a rise standard of living and GDP per capita
Business product in 2004 expected to grow 5.5% GDP per capita will grow by 2.5% in nominal terms
DHL International express delivery and courier company began last Tuesday its own daily cargo flights to and from Israel. The decision to introduce daily flights was taken in a bid to speed up delivery times and overtake market leader FedEx in the growing
DHL: New daily flight to and from Israel
More news from Sea Transport Section
>Chamber of Shipping: port's operating conditions worsening/18.10.04 >Trade Unions - preserve nepotism at Ashdod port/18.10.04 >Tira : port of Haifa unable provide reasonable service/18.10.04 >ZAISCO is a certified participant in the Custom- Trade Partnership Against terrorism (C-TPAT)/18.10.04 >Again: Haifa Port operations workers in strike action/11.10.04 >Ron: port's re-structure negotiation process must end before the year's end/11.10.04 >Sea-gull Maritime – successfully moved IEC project cargo/04.10.04 >Ports Authority approves NIS 13.5m in exemptions, discounts/20.09.04 >Galram celebrates its Lloyds of London nomination/13.09.04 >New steps to overcome cargo influx in ports/06.09.04