ZIM and Alibaba Extend Direct Sea Freight Agreement
Israeli liner shipping company ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) and e-commerce giant Alibaba.com will extend their cooperation agreement for two more years.
The agreement, which has been in place since 2020, enables Alibaba.com sellers to book and purchase sea freight on ZIM and logistic services from ZIM Logistics China, a wholly-owned subsidiary of ZIM. The agreement has now also been expanded to include serving Alibaba.com buyers.
The collaboration helps Alibaba.com “offer its customers a more affordable transit alternative relative to air freight with an easy-to-use interface available directly on the Alibaba.com platform,” ZIM and Alibaba said in a statement.
The expansion of the cooperation agreement, now until 2023, comes amid “significant growth of eCommerce and demand for freight capacity.”
“Since we launched the initial agreement with Alibaba.com, it has proven to be a highly successful and mutually beneficial partnership,” said Eli Glickman, ZIM President & CEO. “We continue to position ZIM as a leading eCommerce service provider, while creating significant advantages for customers. It is part of our innovative strategic vision, and we are very proud to extend and expand this partnership with Alibaba.com to enhance the customer experience and further capitalize on growing eCommerce trends.”
Kuo Zhang , General Manager of Alibaba.com added: “We are happy to continue our collaboration with ZIM to enhance our ecosystem designed to bring the best services to global customers quickly. In the next phase of the collaboration, we can offer global buyers more options and choices to manage and optimize their supply chains, and to thrive and succeed in the massive global B2B eCommerce opportunity.”
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