Israeli shipping line ZIM will quit the Transpacific Stabilization Agreement (TSA), a discussion agreement by the major container carriers moving cargo between Asia and the United States, from December 31. The news follows hot on the heels of ZIM making dramatic changes to its global liner services.
ZIM is the fifth carrier to leave the TSA in 2016. China Shipping and Cosco left the TSA after their merger, South Korea’s Hanjin withdrew from the group in November following its bankruptcy, and Japanese companies K Line and NYK left the agreement in August and November respectively.
ZIM did not give a reason for the drop out.
After ZIM’s exit, TSA will have nine members left including APL, CMA CGM, Evergreen, HMM, Hapag-Lloyd, MSC, Maersk, OOCL and Yang Ming.