Sources inform ''Globes'' that A.P. Moller-Maersk Group A/S (KPX:MAERSK) plans to suspend its direct shipping service to the US from Haifa Port in October. Maersk Line is the world’s largest shipping companies.
Maersk will replace its Haifa-US line with a new service from Port Said in Egypt, which currently serves as the company’s Middle Eastern loading terminal. Maersk will operate a feeder line between Haifa Port and Ashdod Port and Port Said.
In the wake of Maersk’s departure from Israel, Zim Integrated Shipping Services Ltd., controlled by Ofer Brothers through Israel Corp. (TASE: ILCO), will become the leading shipper between Israel and the US. Port sources say that Maersk’s departure could result in a 5-10% increase (about $150 per container) in shipping prices to the US.
The sources added that the abandonment of Israel’s ports by leading international shipping companies is worrying and necessitates improvement in the service at the ports and investment in the construction of more piers.
China Shipping Container Liners Co. Ltd. (HKSE:2866; Shanghai:CN) recently announced that it was halting its direct service from Israel to the Far East
Published by Globes [online], Israel business news - www.globes.co.il - on July 29, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007