The agreements are subject to relevant creditor and shareholder approvals, including a vote of at a General Assembly of the Israel Corporation

The new structure, in cooperation with Hapag Lloyd, is planned to commence on the 3rd quarter, subject to Federal Maritime Commission approval

In 2012 the Israeli based carrier lost US$428 million. Revenues in 2013 amounted to US$3.7 billion, a decrease of 7 percent

The bill is offered for both importers form Asia and exporters to the Atlantic and Pacific trades

Eight container ships were ordered from Hyundai and Samsung Heavy Industries

Bogatch-Genossar is president of ZIM's Americas, Canada and Caribbean Area

Debt settlement includes a NIS 5.25 billion write-off by the creditors - 50% of Zim's $3 billion debt - mostly to foreign banks

The carrier will serve the port of Asunción via a barge service on the Paraguay/Paraná river system connecting to Montevideo, Uruguay and onward