New Agreement Concluded between Coscon and Zim Israel Navigation

Coscon (Cosco Container Lines), Shanghai and Zim Israel Navigation Co.
, Ltd., Haifa are pleased to announce their new service cooperation by
slot exchange between their two services in the Mediterranean / Far E
ast trade, starting in the middle of August, 2000.
Coscon will have slots onboard Zim vessels in the Mediterranean / Far
East weekly direct service to/from Haifa while Zim will have slots onb
oard Coscon vessels in the Mediterranean / Far East weekly direct serv
ice to/from the ports of Port Said, Genoa, Napoli, Fos, Valencia and B
arcelona (Jointly operated by Coscon / K-Line / Yangming).
Coscon and Zim consider this agreement as further expansion of the coo
peration between the two companies in other areas of activity, which w
ill enable both of them to offer broader scope of service to meet thei
r customers's requirements.