ZIM Returns to Black in 2nd Quarter

Image Courtesy: ZIM

Driven by a positive trend in the container shipping industry, Israel’s shipping company Zim Integrated Shipping Services (ZIM) saw steady improvement in its quarterly performance.

The company’s delivered a net profit of USD 2.3 million in the second quarter of 2017, compared to a net loss of USD 74.1 million reported in the same quarter of 2016.

For the three months ended June 30, the company’s revenues reached USD 745.7 million, up from USD 611.9 million in the second quarter of 2016, representing a 21.9% increase.

ZIM also handled 6.7% more volumes during the period as it carried 659 thousand TEUs, compared to 617 thousand TEUs handled in the previous year’s quarter. The average freight rate per TEU increased by 16.3% to USD 1,007 from USD 866 in the respective quarters.

“ZIM’s positive results in Q2 demonstrate an ongoing, steady improvement in the company’s performance. We focus on achieving profitability through efficiency, innovation, and above all reliable and agile services to our customers,” Eli Glickman, ZIM President & CEO, said.

“Our customer-centered approach is at the root of our strategy, and as an independent global niche carrier we can provide unique and flexible services to our customers. I’m confident that this approach will enable ZIM to prevail and achieve additional improvements in the coming years,” Glickman added.

The shipping liner industry went through major developments and structural changes which include reshaping of the alliances and M&A activities that took place over the last quarters. In the face of this tough business environment, ZIM “continues to outperform the industry and achieve improved results.”

For the first six months of 2017, ZIM’s net loss stood at USD 4.1 million, compared to net loss of USD 130.4 million in the first half of 2016.

Total revenues for the first half of the year were at USD 1.4 billion, up from USD 1.24 billion reported a year earlier, while the company’s carried capacity increased by 5.2% to 1,257 thousand TEUs from 1,194 thousand TEUs in the first half of 2016.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >