Kenon Holdings News

Net Income of $4.65 Billion, Adjusted EBITDA  of $6.60 billion, and Adjusted EBIT of $5.82 billionAs the containershipping industry enjoys its greatest boom of a generation, ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced its consolidated results for the three and 12 months ended December 31, 2021.Net income for the fourth quarter was $1.71 billion (compared to $366 million in the fourth quarter of 2020), a year-over-year increase of 366%, or $14.17 per diluted share…

Israeli shipping company ZIM on Tuesday announced a new eight-year charter agreement for a trio of 7,000 TEU liquefied natural gas (LNG) dual-fuel containerships to serve global-niche trades.The eight-year deal with a shipping company affiliate of Kenon Holdings is valued at approximately $400 million.The vessels will be constructed at South Korean shipyard Hyundai Samho Heavy Industries and are scheduled to be delivered during the first and second quarters of 2024.Eli Glickman…

Israeli shipping firm Zim said on Wednesday it would start to offer direct service to Jebel Ali port in the United Arab Emirates (UAE).With its new line, Zim joins a number of international rivals—including MSC, Maersk—to announce they would offer a connection between Israel and the UAE since the countries agreed to normalize relations.Zim said its line will take cargo from Jebel Ali to Israel's Mediterranean Haifa port and, in the other direction, offer service from Israel and the eastern Mediterranean to the UAE.Zim is 32% owned by Kenon Holdings .Rani Ben Yehuda, a Zim executive vice presid

Alibaba Group Holdings and Israeli shipping group Zim have entered a strategic cooperation agreement for the direct purchase of sea freight, which will improve logistic services to merchants selling on Alibaba, Zim said on Monday.Zim said it will provide sea freight and services through a direct interface with the e-commerce giant’s logistics platform.The companies have been cooperating since earlier this year, the shipper said in a statement.Zim is 32% owned by Kenon Holdings.(Reporting by Ari Rabinovitch; Editing by Tova Cohen)

Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.A Zim spokesman said the company was not commenting.Two options being examined are to hold the offering in London or New York, according to Globes, a financial news website, which did not cite its sources.Zim, with a workforce of about 4,200 and which had turnover in 2019 of $3.3 billion, has hired three foreign banks to help with the IPO…

Two container shipping lines, France's CMA CGM and Israel's Zim, have signed up with Alibaba to allow customers to book space on their vessels through the Chinese e-commerce giant, in a bid to boost sales as the sector battles a severe downturn. Container lines, facing their worst ever downturn due to a glut of ships and weaker demand, are pursuing several measures such as vessel-sharing arrangements or mergers and acquisitions to ride out the current slump. A growing number of logistics firms are going online to buoy their business. In December, Maersk - the world's largest container shipping line and a unit of Denmark's A.P. Moller-Maersk - started offering online booking services to Chinese shippers on Alibaba's OneTouch website.

Israeli shipping company Zim, which has been hit hard by the weak global shipping market, said on Wednesday it was planning to defer $115 million of upcoming payments to creditors until 2018. Zim said in its second quarter report that it had agreed with some of its creditors to defer payments for a 12-month period, which began on Sept 30, until the start of 2018. Some of the deferrals are still subject to final due diligence, documentation and approvals. Zim, whose total liabilities are $1.8 billion, on Wednesday reported a second-quarter loss of $74.2 million, versus a profit of $12.1 million a year earlier. Income from voyages dropped to $612 million from $763 million.

Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported. Zim Integrated Shipping Services Ltd has hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead a New York IPO, according to two people with knowledge of the matter, says the report. The IPO is planned for the first half of 2016. The shipping company, controlled by billionaire Idan Ofer’s Kenon Holdings Ltd., is planning to list shares by the first half of next year, the people told "Bloomberg", asking not to be identified because the plans aren’t public. “Zim has been contemplating going public and other financing options since 2007,” Maor Aharoni, a spokesman for the company, was quoted saying. “This strategy has not changed.