Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of September, 2024

 

Commission File Number: 001-39937

 

ZIM Integrated Shipping Services Ltd.

(Exact Name of Registrant as Specified in Its Charter)

 

9 Andrei Sakharov Street

P.O. Box 15067

Matam, Haifa 3190500, Israel

[phone]

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒        Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes ☐        No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes ☐        No ☒

 

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On September 9, 2024, ZIM Integrated Shipping Services Ltd. (the “Company”) issued a press release announcing a new long-term operational cooperation with Medeiterranean Shipping Company (MSC) on the Asia-US East Coast and Asia-US Gulf trades. A copy of the press release is attached herewith as Exhibit 99.1.

 

The information in this Form 6-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	ZIM INTEGRATED SHIPPING SERVICES LTD.
	By:	/s/ Noam Nativ
		Noam Nativ
		EVP General Counsel and Corporate Secretary

 

Date: September 9, 2024

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EXHIBIT INDEX

 

EXHIBIT NO.		DESCRIPTION
99.1		Press Release dated September 9, 2024

 

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Exhibit 99.1

 

ZIM Announces New Operational Cooperation with MSC

Covering the Strategic Transpacific Trade

 

New Agreement which includes Six Asia to USEC and USGC Services is

Scheduled to Commence in February 2025

 

Haifa, Israel, September 09, 2024 – ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), a global container liner shipping company, announced today that it has entered into a new long-term operational cooperation with Mediterranean Shipping Company (MSC) on the Asia - US East Coast and Asia - US Gulf trades. The new services are scheduled to be launched in February 2025, subject to regulatory approvals and filings.

The proposed network under this cooperation agreement is designed to enable ZIM to provide its customers with extensive port coverage, further elevating ZIM’s quality of service, as well as achieving significant operational efficiencies.

Eli Glickman, ZIM President & CEO, said: “This important collaboration reflects ZIM’s commitment to both delivering an outstanding shipping solution to its customers, and taking continuous proactive steps to enhance efficiencies in our network. It is the direct outcome of our fleet renewal program which has greatly enhanced ZIM’s competitive position, particularly on the Asia to US East Coast trade. We are pleased to, once again, join forces with MSC, an industry leader and ZIM’s long-standing trusted partner, to augment our network while upholding our customer-centric approach and commitment to the highest levels of service. Consistent with ZIM’s focus on decarbonization, this partnership will promote greater utilization of larger and more eco-friendly tonnage, including our LNG-powered vessels. I am proud that ZIM is the first carrier to introduce LNG capacity to the Asia to US East Coast trade and currently offers two services fully operated by these green vessels, giving us a unique competitive position in this strategic trade. As market conditions continue to evolve, we intend to remain agile and are well positioned to capitalize on additional attractive opportunities that will benefit ZIM both operationally and financially.”

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The three-year agreement between ZIM and MSC includes slot swap and vessel sharing agreements. The cooperation scope includes six services with extensive connection between Asia to the US East Coast, West Coast of Mexico, Caribbean ports and US Gulf ports, as detailed in the proposed port rotations below¹:

ZIM Seven Stars (Z7S): Singapore – Laem Chabang – Yantian – Cai Mep – Singapore – Suez Canal – New York – Baltimore – Norfolk – Suez Canal – Singapore

ZIM Xpress Baltimore (ZXB): Singapore – Cai Mep – Haiphong – Yantian – Panama Canal – Cartagena – Charleston – Savannah – Jacksonville – New York – Baltimore – Suez Canal – Singapore

ZIM North Star (ZNS): Pusan – Qingdao – Shanghai – Ningbo – Pusan – Panama Canal – New York – Norfolk – Baltimore – Panama Canal – Pusan

ZIM Container Service Pacific (ZCP): Nansha – Yantian – Xiamen – Ningbo – Shanghai – Pusan – Manzanillo, MX – Panama Canal – Kingston – Savannah – Charleston – Wilmington – Kingston – Panama Canal – Nansha

ZIM Gulf Central China Xpress (ZGC): Ningbo – Shanghai – Pusan – Panama Canal – Mobile – Houston – New Orleans – Miami – Freeport – Panama Canal – Rodman – Ningbo

ZIM South Lotus (ZSL): Cai Mep – Xiamen – Yantian – Pusan – Lazaro Cardenas – Panama Canal – Houston – Mobile – Tampa – Miami – Suez Canal – Cai Mep

ZIM will continue operating two independent services to the Pacific Southwest (PSW): ZEX and ZX2, offering extensive connection from Vietnam and China to the US West Coast.

ZIM E-Commerce Xpress (ZEX): Cai Map – Yantian – Los Angeles – Cai Mep

ZIM Central China Xpress (ZX2): Shanghai – Ningbo – Los Angeles – Shanghai

ZIM will also continue its existing agreement with MSC to the Pacific Northwest (PNW), under ZNP service:

ZIM North Pacific (ZNP): Yantian – Shanghai – Qingdao – Pusan – Vancouver –Yantian

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About ZIM

Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 33,000 customers in over 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM’s differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.

Forward-Looking Statements

The following information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about the Company, may include projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company’s current expectations and projections about future events or results. There are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: market changes in freight, bunker, charter and other rates or prices (including as a result of the continued situation in the Red Sea), supply-demand fluctuations in the containerized shipping market, new legislation or regulation affecting the Company’s operations, new competition and changes in the competitive environment, our ability to achieve cost savings or expense reductions, the outcome of legal proceedings to which the Company is a party, global, regional and/or local political instability, including the ongoing war between Israel and Hamas, the increased tension between Israel and Iran and its proxies, in particular the ongoing hostilities between Israel and Hezbollah, inflation rate fluctuations, capital markets fluctuations and other risks and uncertainties detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), including under the caption “Risk Factors” in its 2023 Annual Report filed with the SEC on March 13, 2024. 

Media:

Avner Shats
ZIM Integrated Shipping Services Ltd.
[phone]
[e-mail]

Investor Relations:

Elana Holzman
ZIM Integrated Shipping Services Ltd.
[phone]
[e-mail]

Leon Berman
The IGB Group
212-477-8438
[e-mail]

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¹ Port rotations are subject to geopolitical and other circumstances.

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