ZIM And Alibaba Extend Commercial Partnership

ZIM Integrated Shipping Services Ltd ZIM has announced the extension of a partnership agreement with Alibaba.com, a business unit of Alibaba Group Holding Ltd BABA.
Both the companies have extended their cooperation agreement for two more years.
The agreement, which initially enabled Alibaba.com sellers to book and purchase sea freight and logistic services from ZIM, has now been expanded to include serving Alibaba.com buyers as well.
“We continue to position ZIM as a leading eCommerce service provider while creating significant advantages for customers,” said Eli Glickman, Chief Executive Officer.
Price action: ZIM shares are trading higher by 1.56% at $43 premarket on the last check Monday.