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Israel Corp. lent $50 million

Israel Corp. lent $50 million
The owner's loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million.

The owner's loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million.

The owner's loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million.

Israel Corporation said last week it had extended an additional US$100 million owner's loan to troubled shipping holding Zim Integrated Shipping Services Ltd.

The loan is part of a $150 million credit facility. In early June Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million to help the troubled Israeli carrier survive tumbling cargo volume and sliding freight rates.

Zim announced that first quarter 2009 losses widened to US$119 million from US$29 million in the year-earlier period and revenue shrank to US$622 million from just over US$1 billion. It lost US$322 million in 2008.

www.TurkishMaritime.com.tr

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