Zim faces uncertain future as parent tightens the purse strings

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Of all of the major deepsea liner shipping companies who continue to experience financial difficulties, one that stands out at the beginning of this year is the Israeli shipping company Zim Integrated Shipping Services, which has been singled out by Standard & Poors as putting a drag on its parent company’s credit rating.

Last Year Israel Corp, the country’s largest single company, announced that it was exploring the possibility of offering debentures – long-term loans which act much like bonds – ...