ISRAELI flag carrier Zim is urging the government to
accelerate the implementation of a decision to split up the shipping line into
two independent domestic and foreign companies.
"Delay may affect the company's competitiveness and
complicate the creation of joint ventures common among industry players [and
have the] potential to improve cost structures, cost reduction, and improve
optimisation," said the Zim statement accompanying quarterly results.
Zim has sought to split the company for several years,
but the government holds a golden share - veto power - and trade unions are also
against the move, reports London's Containerisation International.
Despite the best quarterly results in two years, Zim said
it may need further assistance from owner Israel Co. "Zim recognises that
there is still uncertainty and potential volatility in market conditions,"
the Haifa-based company said in a statement.
"Therefore, should the need arise, it will approach
its financing partners, who have been supportive in the past, to achieve
certain concessions or additional flexibility to help the company overcome any
difficult period," the company said.
Source : HKSG.
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