Chinese shipping giant China Shipping Group will set up a shipping agency in Israel with its present local agent, Intermaritime. China Shipping signed an agreement last month with Intermaritime's parent company Allaluf. Israeli trade portal Port2Port reported that China Shipping Agency (Israel) Co. will begin operations at the end of 2005.

The deal is expected to increase the China Shipping Group's market share in Israel. 
 In August, China Shipping launched its Israeli MediterraneanAMAX Service at the Port of Haifa.
According to the company's representative, the arrival of the vessel marked the company's first round the world service, linking ports in the Far East with Israel and from Israel through South European ports to the east coast of the USA.
 China Shipping Group will hold 60% of the new agency while Allaluf will control the remaining 40% share.
 China Shipping Group is the sixth largest container shipping company in the world in terms of operating capacity. The company has 132 vessels with a total capacity over 318 th. TEU.