Container liner shipping company ZIM (NYSE:ZIM) and Alibaba (NYSE:BABA)are adding two more years to their cooperation agreement, which enables Alibaba's e-commerce merchants to book and purchase sea freight and logistics services from ZIM.
The collaboration has been extended to cover Alibaba.com customers, who can select ZIM sea freight as an alternative to air shipment during the checkout process.
The original ZIM-Alibaba agreement was formed last year.
"We are happy to continue our collaboration with ZIM to enhance our ecosystem designed to bring the best services to global customers quickly. In the next phase of the collaboration, we can offer global buyers more options and choices to manage and optimize their supply chains, and to thrive and succeed in the massive global B2B eCommerce opportunity," Alibaba.com GM Kuo Zhang.
ZIM shares are up nearly 1% pre-market to $42.70.
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