Zim Integrated Shipping Services 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%.

A fire caused by nearby explosions broke out onboard a vessel southeast of the Yemeni port city of Aden on Monday, before being contained, the U.K. Maritime Trade Operations (UKMTO) agency and British security firm Ambrey reported."The Master reports the fire onboard has been extinguished and that the crew are all safe. Coalition Forces are responding," UKMTO said in a recent update on the incident.It later added that the vessel was clear of the area and was proceeding to its…

The naming ceremonies of three new vessels joining ZIM’s fleet were held in Korea and China this week for ZIM Integrated Shipping Services, continuing ZIM’s widescale fleet renovation.The naming ceremony of Zim Mount Elbrus and Zim Mount Vinson, the final additions to the series of ten 15,000 TEUs advanced LNG vessels, took place at the SHI Geoje shipyard in Korea. These vessels, showcasing state-of-the-art LNG technology, were named in a traditional manner by their respective godmothers, Mrs. Hani Kalinsky, ZIM's EVP Pacific Business Unit, and Mrs.

Israel-based container shipping company ZIM Integrated Shipping Services has reaffirmed its continued commitment to serve the East Mediterranean and Israeli ports.The message comes after incidents in the Red Sea where militant groups have indicated the desire to disrupt Israeli shipping movements.“Operations to and from these ports will be maintained with the highest regard for safety protocols which are essential to safeguarding the interests of all stakeholders,” said the company in a statement.“In light of the threat to safe transit of global trade in the Arabian and Red Seas…

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…

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.

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…

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…

Israeli shipping company ZIM Integrated Shipping Services (NYSE: ZIM) on Wednesday announced a new charter transaction with a group of investors initiated by MPC Capital AG, according to which ZIM will charter a total of up to six 5,500 TEU wide beam newbuild vessels for a period of seven years and total charter hire consideration of approximately up to $600 million.The vessels will be constructed at Korean-based shipyard, HJ Shipbuilding & Construction (formerly known as Hanjin Heavy Industries & Construction Co.) and are scheduled to be delivered between May 2023 and February 2024.

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 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…

French firm GTT has secured an order from the South Korean shipbuilder Samsung Heavy Industries (SHI) to design fuel tanks for five very large LNG-fuelled container vessels, to be built by SHI for the containership giant Seaspan.The vessels, to be chartered by Israeli firm ZIM, will be able to carry 15,000 containers each. The fuel tank of each vessel will offer a capacity of 12,000 m3 and will be fitted with the Mark III membrane containment system. These tanks will include features…

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…

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 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…

The Israel-headquartered container carrier Zim Integrated Shipping Services (ZIM) is expanding its ZIMonitor containers fleet in 2019 and adding advanced “Star Cool” containers manufactured by Maersk Container Industry (MCI).MCI informed that it has secured an order of 500 Star Cool Integrated Reefers from ZIM Integrated Shipping Services, establishing a strong relationship with the customer.For decades, ZIM has been offering advanced transport of fruit, meat, medicines, and other frozen or refrigerated cargo to its customers. The new MCI “Star Cool” containers have the refrigeration unit integrated directly into the container box. This design has several advantages…