[ Agreement Between HMM and ZIM ]

Hyundai Merchant Marine Co., Ltd and Zim Israel Navigation Co., Ltd.
have reached a slot exchange agreement between HMM’s transpacific
services(Far East/west Coast of North America) and Zim’s East Coast
of North America service in order to meet the needs of the various
clients in the trade.
with this new cooperation between the parties, HMM will inaugurate
its new ALL-water service and have an opportunity to diversify its
transpacific service to East Coast of the States in addition to the
existing USWC services and ZIM will improve and enlarge its services
to/from the Far East and Southeast Asia to US West Coast as to/from
the Pacific Northwest to meet the customers’need.
The Cooperation will be started from 2nd half of June, 1997 upon
getting an approval from the Governmental Authorities concerned.
HMM operates three weekly services from Asia to the West coast of
North America and Zim operates a weekly service between Asia and East
coast of North America.