Zim integrated shipping service is gradually reducing the urgent trans-Pacific service from China to the west coast of the United States after just two years, while increasing the capacity of new services connecting the growing Southeast Asian market and the east coast of the United States. On February 23, he announced the establishment of Lotus Link, a joint venture operating domestic shipping services in Vietnam.

The chill of slowing market demand, weakening consumption and increasing costs has spread to the global logistics industry. The container shipping company has decided to terminate the Zim e-commerce Xpress(ZEX) service. The last conference call in Los Angeles will be held on Saturday. At present, direct access to international and domestic shipping services is restricted, thus benefiting Southeast Asian importers and exporters, especially the expansion of imports from Vietnam.

From a global perspective, shipping is one of the most important modes of transportation in international commodity exchange, and the proportion of cargo transportation in all international cargo transportation is about 80% or more.

, like other airlines, Zim is also adjusting its capacity because the slowdown in Asian imports and excess capacity have lowered container freight rates. According to Platts, the average spot price from Shanghai to Los Angeles reached US $1275 per FEU on March 3, down from the peak of US $9500 per FEU in January.

orders decline, to ease the accumulation of empty boxes, to strive for supply is still the core. According to relevant data, although China, including Hong Kong, still dominates the US procurement pattern, accounting for 40.7 percent of US container imports last year, its market share has dropped from 42.4 percent in 2021. Vietnam is the second largest source of U.S. container imports. Due to the increase in procurement of electronic products, footwear and clothing, Vietnam's share of total U.S. container imports rose from 8.2 percent in 2021 to 8.7 percent last year.

With the end of Zim ZEX's west coast service, ZIM uses its digital strategy and commitment to ESG values to provide customers with innovative shipping and logistics services and excellent customer experience. The Israel-based airline is reorganizing its e-commerce Baltimore Xpress (ZXB) service, increasing the capacity of loop ships from the current 3000 to 4000 TEU to 6000 TEU, providing the fastest transportation time from all direct loading ports to Baltimore and Boston, and changing the frequency from once every two weeks to once a week.

"The new and upgraded ZXB aims to provide customers with simplified quality services and respond quickly to changing market needs. The new ZXB will provide more coverage, more contacts and opportunities," said ZIM Pacific Executive Vice President of Business. "

Forwardernet.com