Rafi Danieli News

Eli Glickman, 56, took office as the new President and Chief Executive Officer of ZIM effective July 1, 2017. Glickman is taking over from Rafi Danieli, who has been President & CEO of ZIM since 2009. "I’m pleased and honored to take office as ZIM’s CEO. ZIM is a dynamic company with a proud heritage. I‘m confident in our ability to deliver exceptional service to our customers, while striving for profitability and growth,” Glickman said. He added: “I want to thank Rafi Danieli, who has steered ZIM through rough seas.

In the face of tough business environment, ZIM Integrated Shipping Services (ZIM) continues to outperform the industry and achieve improved results, claims a statement from the company. ZIM's operating cash flow for Q1 2017 was $33.8 million, compared to negative $14.6 million in Q1 2016. ZIM’s Q1 results reflect the constant improvement in the company’s performance, as a result of the comprehensive transformation the company has implemented in recent years. The company’s performance has been improving since the middle of 2015 and the adjusted EBIT of Q1 2017was the highest since then. Rafi Danieli, ZIM’s President & CEO, said: “With the new alliances’ structure in place…

Eli Glickman has been nominated by ZIM Integrated Shipping Services’ board of directors as the container carrier’s new president and CEO. Glickman will assume the role July 1, replacing current CEO Rafi Danieli, who last year advised that he would be stepping down. Danieli led ZIM as CEO for the past eight years, and before this held various positions at ZIM, including CFO and deputy CEO. “It has been a privilege to lead ZIM during the most difficult times the industry has ever faced,” Danieli said.

​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.

In order to improve its services and provide better solutions to market needs, ZIM is announcing a restructuring of its main services on major trades. The new, enhanced structure provides first-class services in the select trades the company is pursuing. The changes will commence in April 2017, offering customers an array of newly designed services catering to market needs, and providing efficient and viable solutions to customers’ evolving needs. ZIM is introducing a new service between Asia and the Pacific North West, a fast link with efficient gateway to numerous inland destinations in the USA and Canada. This service will replace the current NP services as of April 2017.

Despite continued distressed market conditions ZIM announced today improved results for Q3 2016 on most parameters compared to Q2 2016. Despite continued distressed market conditions ZIM published today improved results for Q3 2016, posting a loss of USD 37.6M, compared to a loss of USD 74.2M in Q2 2016. The company’s EBIT margins are in the industry’s top 5. •    ZIM recorded an improvement in most of the parameters compared to Q2 2016 results. •    ZIM continues to outperform the industry average in Adjusted EBIT margins for Q3 2016, positioning ZIM among the industry’s top5. During Q3 2016, ZIM carried 622,000 TEUs, compared to 581,000 TEUs in the same period of 2015, a 7.1% increase.

Israel’s container shipping company ZIM Integrated Shipping Services (ZIM) has reached an agreement with its creditors to reschedule payments of USD 115 million, during a period of up to 12 months starting from September 30, 2016. With this agreement in place the company maintains its financial stability and will continue to develop its growth plan, says a statement from the company. Reaching this agreement is another proof of the confidence and trust that the creditors have in the company. ZIM published the Q2 results, with a loss of USD 74M and positive Operating cash flow of $17.6mln. ZIM carried 617,000 TEU’s  for the three month period ended June 30, 2016 , a 6.9% increase compared to Q1 2016, which is above market average growth for same period.

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.

Israel’s shipping firm ZIM Integrated Shipping Services has launched an extensive program aimed at changing its organizational structure. The change is based on the company's business plan to focus on profitable trade areas in which ZIM enjoys competitive advantage. Company's management said that the aim of the program is to build a lean and agile enterprise, attentive to the needs of customers and market trends. The shipping operator will transform the regional branches to create three business units that will report directly to the head of the company. The Pacific Unit will be responsible for transport between Asia and North and Central America…

Israeli liner carrier Zim Integrated Shipping Services is launching a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May. The 10-ship loop will call in South China, Vietnam, Colombo, New York, Savannah and Norfolk, and is designed to provide fast transit from Asia to New York. The new service, which ZIM has dubbed the Seven Star Express (Z7S), will commence May 29 with a rotation of Da Chan Bay, Yantian, Cai Mep, Singapore, Colombo, New York, Savannah, Norfolk, Singapore, and Da Chan Bay. ZIM, which will operate the service completely with its own vessels, will deploy 10 ships with capacity between 5,000 TEUs and 6,500 TEUs on a weekly schedule.