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Zim Integrated Shipping Services Ltd News

16 Aug 2023

ZIM 2Q Revenues Plunge 62%

ZIM SAMMY off of New York. Photo courtesy ZIM

Pain in the containershipping sector is not uncommon in 2023, and Israel's ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is no exception, today reporting 2Q and six month results:Net loss for the second quarter was $213 million, negatively impacted by a non-cash after tax item of $51 million related to the redelivery of certain vessels.Operating loss (EBIT) for the second quarter was $168 million, compared to operating income of $1,764 million in the second quarter of 2022Revenues for the second quarter were $1…

27 Mar 2023

ZIM and Shell Complete First LNG Bunkering in Jamaican Waters

(Photo: ZIM)

ZIM Integrated Shipping Services Ltd. and Shell International Petroleum Company Limited announced the successful bunkering of the ZIM SAMMY OFER containership with liquefied natural gas (LNG), marking the first LNG bunkering operation in Jamaican waters. The vessel was bunkered at Kingston Freeport Terminal Limited (KFTL) on March 26, 2023. The ZIM SAMMY OFER is the first in a series of ten 15,000 TEU LNG dual-fuel containerships which ZIM plans to deploy on their ZCP trade line.

31 Aug 2022

Zim Inks $1 Billion LNG Bunkering Deal with Shell

© Rock / Adobe Stock

ZIM Integrated Shipping Services Ltd. on Wednesday announced it has signed a liquefied natural gas (LNG) bunkering deal valued at more than $1 billion with Shell NA LNG, LLC as the Israeli container shipping seeks to reduce emissions from its operations.Under the 10-year sales and purchase agreement, Shell will supply 10 LNG-fueled vessels that will be deployed on ZIM's flagship ZIM Container Service Pacific (ZCP), on the Asia to USEC trade. The 15,000 TEU vessels are expected to enter into service during 2023-2024 and will be transporting goods from China and South Korea to U.S.

12 Aug 2022

ZIM Invests in Tracking Solutions Company Hoopo

© STOCKSTUDIO / Adobe Stock

Israeli shipping company ZIM Integrated Shipping Services Ltd. said it has invested in Hoopo Systems Ltd., a provider of tracking solutions for unpowered assets, as the firm sets out to develop a first-of-its-kind tracking solution for dry containers.New York-listed ZIM announced Friday that it invested $5.5 million in Hoopo, alongside both existing and new financial investors as part of a recently completed Series A financing round.Proceeds of this investment are intended to…

18 Jul 2022

Ocean Yield Buys 5,500 TEU Newbuild

Credit: Igor Groshev/AdobeStock

Ocean Yield, which describes itself as a ship-owning company with investments in vessels on long-term charters, has agreed to buy a 5,500 TEU container vessel newbuilding under construction at HJ Shipbuilding, Korea. The vessel design enables it to be converted to dual fuel operation with methanol as fuel. Delivery of the vessel is expected in May 2023. Upon delivery, the vessel will start a seven-year time charter contract to ZIM Integrated Shipping Services Ltd., which will…

09 Mar 2022

ZIM Announces Record Financial Year in 2021

Photo courtesy ZIM

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…

22 Oct 2021

ZIM Scoops Up Seven Secondhand Box Ships in October

© Rock / Adobe Stock

Israeli container shipping company ZIM Integrated Shipping Services Ltd. said that during the month of October it purchased seven secondhand containerships amid continued high demand and vessel shortages.The vessels, purchased in a number of separate transactions, were built between 2007-2009 and include five 4,250 TEU vessels and two 1,100 TEU vessels, for a total consideration of approximately $320 million, ZIM said.Eli Glickman, ZIM President & CEO, said, “Since going public…

06 Oct 2021

ZIM Establishes Digital Freight Forwarding Company

Carmit Hoshen-Glik, Ship4wd CEO (Photo: ZIM)

ZIM Integrated Shipping Services Ltd. on Wednesday announced the creation of a new subsidiary, Ship4wd, a digital freight forwarding platform offering an online self-service end to end shipping solution.Launching October 18, 2021, Ship4wd is intended to be a one-stop-shop international shipping service targeting U.S. and Canadian small and medium-sized businesses importing and exporting from China, Vietnam and Israel, ZIM said. The Ship4wd platform consists of both sea and air shipping services up to the final destination…

01 Sep 2021

ZIM Opts for Five More LNG-fueled Containerships

© Rock / Adobe Stock

Israeli container shipping company ZIM Integrated Shipping Services Ltd announced on Wednesday that it has exercised its option to long-term charter five additional 7,000 TEU liquefied natural gas (LNG) dual-fuel newbuilds from containership lessor Seaspan Corporation.Under the initial deal announced in July, ZIM has already entered into long-term charter agreements for ten 7,000 TEU LNG vessels scheduled to be delivered from the fourth quarter of 2023 into 2024. The option announced today…

03 Jul 2019

Zim Begins Asia-Gulf Services with 2M

The global container shipping line Zim Integrated Shipping Services Ltd (Zim) announced a further expansion of its strategic cooperation with the members of the 2M Alliance, Maersk & MSC, to the Asia - US Gulf Trade."The new services, catering for both Central and South China and South Korea, offer significant advantages for customers, including direct connections to major ports in Asia and the US Gulf; best-in-market transit time with reliable dedicated service; Two weekly cutoffs in Houston & Mobile to better serve growing US exports requirements," said a press note from the biggest cargo shipping company in Israel.Eli Glickman, ZIM President and CEO said: "This is the third phase of our tightening cooperation with the 2M Alliance, now extending to four major trades.

21 Mar 2019

ZIM: Higher Revenues, But a Loss in 2018

The biggest cargo shipping company in Israel, Zim Integrated Shipping Services Ltd (ZIM) reported a revenue of nearly $3.25 billion in 2018, the highest in the last 4 years, reflecting an increase of 9.1% compared to $2.98 billion in 2017.However, the global container liner had a net loss in 2018 of $119.9 million, including an impairment loss of $38.0 million with respect to vessels classified as held for sale, compared to net profit of $11.4 million in 2017.Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) were $145.3 million in 2018, compared to $270.1 million in 2017.The container shipping industry is dynamic and volatile and has been marked in recent years by instability…

14 May 2018

ZIM Names Destriau CFO

(Photo: ZIM)

ZIM Integrated Shipping Services Ltd. announced that Xavier Destriau will take over as the company’s new CFO, effective June 15, 2018. He will replace Acting CFO, Yohai Benita, who has completed his position at ZIM.Destriau has worked at CMA-CGM for 10 years and has served as Vice President - Head of Group Financing from 2014 to 2016. Destriau will be joining the company after two years as Strategic Advisor to Founder and Interim CFO of LTF Partners, an exclusive advisory firm with special expertise in emerging and frontier markets.

26 Dec 2017

Improving ZIM’s Greece Turkey Service

In order to improve our current service levels and provide customers in the region with the best solutions, ​ZIM Integrated Shipping Services Ltd  introduced changes starting January 2018. Iskenderun port is added to TGX rotation: Thessaloniki cargo will now be served by our mainliner ZMP service, via Istanbul to Haifa, with a total transit time of 7 days and much improved schedule reliability. The change is implemented as part of ZIM’s strategy to create synergy with our mainliners through fast connections in Turkish ports. The new rotation is also aimed to overcome congestion problems in Thessaloniki and better serve the Greek market. The change is part of our ongoing efforts to expand our coverage in the region and improve overall service levels to customers.

31 Aug 2017

ZIM Continues to Outperform

​ZIM Integrated Shipping Services Ltd (ZIM)continues to outperform the industry and achieve improved results, claims the company. 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. "Since Q3 2016 we have been witnessing a positive trend in the industry with improved freight rates in most trades, however, market conditions on the whole, remained challenging and volatile," said a statement form the company. In the face of this tough business environment, ​ZIM continues to outperform the industry and achieve improved results.

11 Mar 2017

ZIM Introduces ECO Data Calculator

ZIM Integrated Shipping Services Ltd (ZIM)’s ECO Data calculator, available free on ZIM's website, provides customers and partners with estimated CO2 (Carbon Dioxide gas) and SOX (Sulfur Oxide gas) Emissions from ZIM vessels. The ECO Data Calculator enables data retrieval per specific line/service, or between 2 locations, for any specific number of TEU’s or cargo weight carried. The application allows users to initiate an emission report which can be saved, printed or sent by e-mail in a PDF format. The emission data is based on the CCWG (Clean Cargo Working Group) latest emission-factors methods and calculation, adjusted specifically for ZIM operated vessels.

02 Mar 2017

ZIM is Back to Profit in Q4 2016

​ZIM Integrated Shipping Services Ltd (ZIM) generated a net profit of $4.6 million and adjusted EBITDA of $43.9 million in Q4 2016, a significant improvement over Q3 2016. ZIM carried 2.4 million TEUs in 2016, a 5.2% increase compared to 2015 ZIM continued to record improved results and outperform the industry, through increased efficiency and cost reductions achieved against a background of volatile and rapidly changing market conditions. ZIM reported an adjusted EBITDA of $43.9 million in Q4 2016, and $46.7 million for the year ended December 31, 2016. ZIM recorded adjusted EBITDA margins of 6.7% in Q4 2016, and 1.8% for the whole of 2016.

07 Dec 2016

ZIM to Enhance its Atlantic Network

​ZIM Integrated Shipping Services Ltd (ZIM)  has announced a significant upgrading of its Atlantic network, offering improved connections between US, Canada and the Mediterranean, starting April 2017, subject to FMC approval. ZIM Container Service Italy (ZCI) - A new premium string, offering improved service to the Italian and French markets, connecting with Canada and the US East Coast, with faster transit time, additional ports of call in Italy and a direct call in Fos, France. ZIM’s flagship service, ZIM Container Service Atlantic (ZCA), operating 7 vessels, will focus on the East Med and Spain, with a new call in Algeciras, serving the South Spain market and adding new direct calls in two major Turkish ports- Izmir and Mersin.

27 May 2016

Zim Sinks to Red

Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year. ZIM swung to a $56 million net loss in the first quarter from a $12 million profit in the previous year and revenue was down by a fifth as slumping freight rates negated a market-beating increase in container volume. The adjusted EBIT margin was negative 2.6% for the three months ended March 31, 2016. Israeli container shipping company carried 577 thousand TEUs in Q1, reflecting a 3% increase compared to Q1 2015 ZIM maintained its competitive position in terms of EBIT margins, vis-à-vis the industry, in spite of severe market conditions and historically low freight rates.

01 Apr 2011

Grand Alliance, ZIM & HMM Jointly Announce New SCE2 Service

Grand Alliance members Hapag-Lloyd (HL), Nippon Yusen Kaisha (NYK) and Orient Overseas Container Line (OOCL), along with Partner ZIM Integrated Shipping Services Ltd (ZIM) are pleased to jointly announce the new co-operation with Hyundai Merchant Marine (HMM) within the Trans-Pacific All Water sector. The South China East Coast Express 2 (SCE2) will be launched on 12th May 2011, in conjunction with the enhancement of the established South China East Coast Express (SCE), offering a comprehensive service network for Lines’ respective customers’ requirements.

05 May 2015

Diana Containerships Announces Time Charter Contract

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Zim Integrated Shipping Services Ltd, for one of its Panamax container vessels, the m/v Pamina (ex Santa Pamina). The gross charter rate is $15,325 per day, minus a 4% commission paid to third parties, for a period of minimum 10 months to maximum 12 months. The charter is expected to commence by the end of May 2015.

19 Apr 2016

ZIM to Enhance its Asia to US East Coast and Gulf Services

​ZIM Integrated Shipping Services Ltd (ZIM) has announcd an enhanced Asia to US East Coast and Gulf service offering, with seven different weekly services, extensive direct port-to-port coverage and best-in-market Transit time from key ports in Asia to US East Coast & Gulf. The full scale services offered by zim in this trade: ZIM Seven Star Express (Z7S), inaugurated in May 2015, a premium service from South China, Vietnam and India Sub continent to US East Coast, will be upgraded with a direct Port Kelang call, offering 24 days transit time to New York. ZIM Pacific Atlantic Service (ZPA) brand new service by ZIM, covering Central China and Korea to Miami, Jacksonville and Charleston, will commence in early May, subject to FMC approval.

01 Sep 2015

ZIM Transitions Fleet to StowMan(s) Software

Photo courtesy of ZIM

ZIM Integrated Shipping Services Ltd, Israel  has decided to enhance its stowage planning for its containership fleet (currently 93 ships) in the future by using the software StowMan[S] from INTERSCHALT maritime systems AG, the software and services provider for maritime navigation and communications systems for ships. In addition to the stowage planning software, the contract includes equipping the ZIM fleet on-board with the Seacos MACS3 loading computer from INTERSCHALT. StowMan[S]…

09 Oct 2015

Zim plans Wall Street IPO

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.