Eli Glickman News

ZIM Integrated Shipping Services has announced consolidated results for the three and 12 months ended December 31, 2023, noting a net loss for the fourth quarter of $147 million (compared to a net profit of $417 million in the fourth quarter of 2022).The net loss for the full year, including a $2.06 billion non-cash impairment loss, was $2.69 billion (compared to a net profit of $4.63 billion for the full year of 2022).Adjusted EBITDA for the fourth quarter was $190 million, a year-over-year decrease of 80%.

Activity at Israel's ports is slowing after Saturday's attacks by Islamist group Hamas on towns close to Gaza, with the cost of insurance premiums for Israeli shipments soaring amid tightening supplies of food stocks, according to sources and data.Israel's southern coastal city of Ashkelon, which has a small port well in range of Hamas rockets, is not allowing ships to enter, shipping sources said.While the main Israeli ports of Ashdod further up the coast and Haifa in the north…

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…

South Korea's Samsung Heavy Industries shipyard hosted a naming ceremony for the 15,000 TEU LNG dual-fuel vessel Zim Sammy Ofer.The Zim Sammy Ofer is the first of 10 vessel ordered in a long-term chartering agreement between ZIM and Seaspan Corporation. The vessel was named after the late shipping magnate Sammy Ofer, who passed away in 2011. The Neo-Panamax vessel is 366-meters long with a 51-meter beam. The vessel has a max service speed of 22.5 knots, a dual-fuel main engine with output of 46…

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.

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…

Shani Ben-David, 39, was appointed to the position of Captain, significant as she is the first woman to be appointed captain in the Israeli Merchant Marine. In a traditional ceremony held at the company's headquarters in Haifa, ZIM President & CEO, Eli Glickman, granted her the official appointment. She will take command of the container ship ZIM Shekou at the beginning of May 2022."The historic appointment of Shani Ben-David, as the first woman Captain in our fleet, is exciting and inspiring," said Glickman.

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 container shipping company ZIM Integrated Shipping Services announced on Thursday it will charter 13 vessels from Greek-headquartered Navios Maritime Partners L.P.ZIM said it will charter five secondhand 3,500-4,360 TEU vessels for up to 4.5 years and eight newbuild 5,300 TEU vessels for up to 5.3 years for total charter hire consideration of approximately $870 million.The secondhand vessels are expected to be delivered in the first and second quarters of 2022, will be deployed across ZIM’s global network.

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 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…

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…

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…

Seaspan Corporation on Tuesday announced it has entered into long-term charters with Zim Integrated Shipping Services for 10 dual-fuel liquefied natural gas (LNG) containership newbuilds, extending the containership lessor's newbuild ordering spree amid continued high demand and vessel shortages.The "ultra-modern" 7,000 TEU vessels will be built by a "major shipyard" for an aggregate purchase price of approximately $1.05 billion, and they are expected to be delivered starting in the fourth quarter of 2023 and throughout 2024…

Seaspan Corporation announced Friday that it has entered into an agreement to order up to 10 dual-fuel liquefied natural gas (LNG) containerships from South Korean shipbuilder Samsung Heavy Industries.Seaspan, a wholly owned subsidiary of Atlas Corp., said the deal is for five ultra-modern 15,000 TEU newbuilds, with an option for an additional five. The containerships are scheduled for delivery from first half of 2023 onward, and upon completion will enter 12-year charters with Israel-based shipping company ZIM for its Asia - US East Coast trade."This is a milestone agreement for ZIM…

Israeli shipping company ZIM said it has developed and implemented an artificial intelligence (AI)-based screening software to detect and identify incidents of misdeclared hazardous cargo before loading to vessel.Misdeclaration of hazardous cargo has been at the root of major marine incidents, causing loss of life and severe damages. Last year, several carriers announced the imposition of additional fees as a partial solution for this recurring problem.ZIM’s new ZIMGuard system scans shippers’ cargo declarations at an early stage and flags potential cases of wrongly declared cargo.

Israeli international cargo shipping company ZIM Integrated Shipping Services continued to record improvements and to expand its global network to its customers confronting  challenging business environment.ZIM has reported a net profit of USD 5 million for the third quarter of 2019, after returning to black in the second quarter of the year. (Compared: Net loss of $6.6 million in Q3 2018).Eli Glickman, ZIM President & CEO, said: “In spite of the challenging market conditions, ZIM continued to record improved results in Q3, as it did throughout 2019. While the challenges in the market endure, the advantages gained by our global strategic…

Israel-based container shipping line ZIM Integrated Shipping Services announced the official launch of its new 'Powered by Our Customers' approach.As ZIM moves forward with the development and implementation of new digital tools, the cargo line is embarking on an innovative new concept, 'Powered by Our Customers', which will become the new standard for all future ZIM digital applications."Taking ZIM’s personal touch and customer-oriented approach to the next level, Powered by Our Customers is all about inviting customers to take an active part in designing and influencing ZIM’s Service Experience – For Customers By Customers!," said a press note.As part of the new methodology, ZIM is creating a customers’ panel of “Influencers”.

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…

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.

Israeli container line ZIM Integrated Shipping Services Limited reported a total revenues of  $834.3 million in Q2 2019, reflecting an increase of 3.9% compared to $803.2 million in Q2 2018.In Q2 2019, ZIM carried 731 thousand TEUs, the second highest ever carried volume (reflecting a decrease of 5.3% compared to 772 thousand TEUs in Q2 2018, ZIM’s all-times record), said a press note.The container shipping industry is dynamic and volatile and has been marked in recent years by instability, characterized by volatility in freight rates and bunker prices, as a result of ever-changing market environment and the extensive activity of mergers and acquisitions that also led to reorganization of the global alliances.The instability and volatility in the market…

The Israel-headquartered container carrier Zim Integrated Shipping Services (ZIM) reported  a first-quarter net loss of $17.5 million compared with a net loss of $26.1 million in the first quarter of 2018.The global container shipping company said in a stock exchange annoucement that its first-quarter revenues were $796.2 million, an increase of 6% over the $751.4 million reported for the first quarter of 2018.In Q1 2019, ZIM carried 668 thousand TEUs (reflecting a decrease of 4.3% compared to Q1 2018), it said.The container shipping industry is dynamic and volatile and has been marked in recent years by instability, characterized by volatility in freight rates and bunker prices…

ZIM Integrated Shipping Services (ZIM) reported total revenues were $803.2 million in Q2 2018, compared to $745.7 million in Q2 2017, an increase of 7.7%. It  carried 772 thousand TEUs, an all-time record (reflecting a growth of 17.1% compared to Q2 2017).However, the operating cash flow was $52.6 million, compared to $88.9 million in Q2 2017.Eli Glickman, ZIM President & CEO, said: “Q2 2018 was characterized by the continued rise in fuel prices and chartering rates, as well as low freight rates, all with a negative impact on the results of carriers, including ZIM."Eli added: "In spite of these adverse circumstances, we were able to increase liftings, maintain exceptional service to our customers and record an adjusted EBIT margin above industry average.