A new Israel shipping line, Cargo Ships El Yam. was formed here yesterday. The new line will operate three Canadian built 10, 700 ton Israel flag vessels which it purchased from the Israel-American Line, after its reorganization. The ships–the Yaffo, Tel Aviv and Akko–will engage in the worldwide tramp traffic.
The Israel-American Line was taken over by the Zim Israel Navigation Line, which formerly had a half interest in the other company. Zim’s former partners in the Israel-American Line were a group of American investors and the Israeli Finance Company. The investment group organized Cargo Ships El-Yam after completing the transfer to Zim.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
