Zim Line`s president and CEO Rafi Danieli said: "Allon took part in Zim`s financial plan and the negotiations with the banks regarding the improvement of the company`s financial covenants, in light of the deteriorating situation of the shipping industry in recent years. I would like to thank Allon for his contribution and wish him every success in the future."
So far, Mr Raveh`s replacement has not been announced. Zim has been confronted with financial troubles and running in the red since the end of 2008. The carrier has not posted its financial results for the second quarter, so it is still too early to say whether it could benefit from a series of previous freight rate increases and return to profit in the second quarter.