Zim to mothball ships

1/10/2009 10:01:39 AM

The company is streamlining to cope with the severe crisis in the shipping industry.    ZIM will mothball a substantial part of its fleet as part of its streamlining measures to cope with the severe crisis in the shipping industry. The measure will result in hundreds of layoffs, and Zim's management is negotiating with the workers committee and Histadrut (General Federation of Labor in Israel) on the numbers. Shipping industry sources believe that Zim will mothball 30-40% of ships on its Israeli routes and a similar proportion on its international routes. The company currently operates 22 ships on its Israeli routes, and the number will be reduced to 12-15.  Globes Online

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