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Rear Admiral Isquith Elected President of American Group Aiding Israeli Seafaring

June 28, 1949
See Original Daily Bulletin From This Date

The Zim shipping company will soon add two ships to the American Israeli line, with a tonnage of 10,500 each, a director of the Zim concern announced today.

By agreement with the United States Maritime Commission, through which the ships are being acquired, the new vessels will carry 50 percent United States loan goods for the next two or three years. The price for carrying loan goods will be ten percent of cargo value. Zim is negotiating for the acquisition of three freighters for the Mediterranean line, one of which would carry fruit.

Negotiations are also under way for a passenger and freight carrier. A total of six to seven million dollars from the Export-Import Bank loan will be spent for shipping. In the next three years it is expected that, enough trained Israeli seamen will be available to man the fleet.

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