views updated


EL-YAM , Israeli merchant shipping company. Cargo Ships El-Yam Ltd. was founded in 1949 by a subsidiary of the Israel Discount Bank and started operations in 1953 with three 10,800-ton vessels. It developed rapidly and in 1977 its fleet (owned through affiliated and subsidiary companies), consisting of bulk carriers and refrigerated vessels for the transport of fruit, meat, and dairy products, exceeded 1.75 million tons dead-weight, representing an investment of $200,000,000.