A planned $4.2bn sale of ZIM to Germany’s Hapag-Lloyd sparked protests and a strike in Israel this week. Under the structure outlined, Hapag-Lloyd will acquire ZIM and then carve out its Israeli operations into a separate entity to be controlled by FIMI. The new company, to be known as “New ZIM”, will operate 16 vessels to maintain direct maritime links for Israel. Workers said they fear large-scale redundancies under the new structure.
Angad Banga, the newly minted CEO of Caravel Group, was this week’s big Maritime CEO interview. He – and his father Harry – were also making headlines as they became boardmembers at dry bulk giant, Pacific Basin.
The United Nations Convention on the International Effects of Judicial Sales of Ships, also known as the Beijing Convention, entered into force this week, fixing problems arising around the world from the failure in recognising the free and unencumbered title given to purchasers of vessels in judicial sales.
With the IMO flagging this week that there are now 529 ships around the world using fraudulent registry documentation, this week’s Splash Wrap podcast, carried below, looks at this scourge and how it came about.
