Israeli flag carrier Zim will quit the Transpacific Stabilisation Agreement (TSA) that covers the trades between the Far East and United States as of year-end, according to a filing to the US Federal Maritime Commission.
However, the carrier has not given a reason for its departure.
Zim is the fifth shipping line to leave the TSA in 2016. China Shipping left in March after its merger with Cosco, bankrupt Hanjin Shipping withdrew in November, “K” Line left in August and NYK in November.
TSA members – CMA CGM, APL, Maersk Line, MSC, Cosco, Evergreen Line, Hapag-Lloyd, OOCL, Yang Ming and Hyundai Merchant Marine – collectively deploy 91,367 TEU per week from Asia to the US east coast, accounting for 72.5 per cent of capacity on the trade; and 189,546 TEU per week from Asia to the US west coast, or 71.8 per cent of capacity, according to BlueWater Reporting.
Image credit: ZIM
Source: Shipping Gazette
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