Alibaba Group and Israeli shipper Zim partner on sea freight

FILE PHOTO: A logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song

JERUSALEM (Reuters) - Alibaba Group Holdings BABA.N9988.HK and Israeli shipping group Zim have entered a strategic cooperation agreement for the direct purchase of sea freight, which will improve logistic services to merchants selling on Alibaba, Zim said on Monday.

Zim said it will provide sea freight and services through a direct interface with the e-commerce giant’s logistics platform.

The companies have been cooperating since earlier this year,

the shipper said in a statement.

Zim is 32% owned by Kenon Holdings. KEN.NKEN.TA

Reporting by Ari Rabinovitch; Editing by Tova Cohen