Israeli carrier Zim is withdrawing from the Asia-Australasia trades and entering a vessel-sharing agreement (VSA) with MSC following a $213 million net loss in the second quarter. The move involves suspending all three of its Oceania-related services, including Asia-Australia CAX, South China/South-east Asia-Australia TFX, and Trans-Tasman N2A. Zim will collaborate with MSC on the Panda loop, rebranded as ZAX, deploying seven 5,000 TEU ships.
Zim is restructuring its network and believes the VSA with MSC will bolster its position in the region. It's suggested that Zim will slot charter with MSC for its new ZAO and ZOX services, requiring alternative employment for the 2,500-2,800 TEU charter vessels currently on soon-to-be-discontinued loops.