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…
ZIM Names Destriau CFO
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.
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.
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.
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.
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 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 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…
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 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…
ZIM Transitions Fleet to StowMan(s) Software
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]…
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.
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.
Taiwan Shipbuilder Denies Orderbook Collapse
According to an April 19 report from the Taiwan News, Taiwan International Shipbuilding denied reports that its business had collapsed after Zim Integrated Shipping Services Ltd. canceled order. Vice General Manager Wang Ko-hsuan told Taiwan News that Zim Integrated Shipping did cancel a plan to buy six ships, but it still had more than 50 vessels left to build. Ko-hsuan said there would be no layoffs for five years and no wage cuts. (Source: Taiwan News)
Grand Alliance upgrades ATX Service
Trade, in cooperation with ZIM Integrated Shipping Services Ltd. The joint service to be upgraded is the "Atlantic Express" or ATX service. which will be provided by ZIM and the other three from the Grand Alliance. York, Norfolk and Charleston. providing upgraded tonnage and replacing the current NEX service of ZIM. route with larger, more efficient tonnage. consumption per slot-mile, offering a more environmentally friendly solution.
Zim to Buy Eight Ships for $1.36B
Israel Corp. subsidiary Zim Integrated Shipping Services Ltd. said it had placed an order to purchase eight mega container ships from the South Korea’s shipyard Samsung Heavy Industries Co. Ltd. The deal, valued at $1.37b, ($170m each) comes six weeks after Zim Integrated Shipping Services Ltd. announced its plan to upgrade its container vessels fleet. The company had ordered eight TEU 12,600 mega containership for delivery by July 2012. The purchase will substantially increase the Israeli-based carrier's fleet when the vessels arrive in 2012. The order took the global shipping sector by surprise, since Zim had generally bought its containerships from rival South Korean's Hyundai Shipyards.
Zim to Spend $1.36b on Container Ships
Zim Integrated Shipping Services Ltd. announced last week it would buy up to eight new mega container ships for $170m each, for a total of $1.36b. The company said that it would take an option to buy one more ship and should the option materialize the total order value could reach $1.53b. According to Zim, the eight ships will each have a container capacity of TEU 12,600. The new ships will be delivered in 2012. Last June, Zim Integrated Shipping Services Ltd. bought two container ships of 2,450 TEU each, and will have an option to buy two more, which will be due for delivery in 2010-11. Source: Port2Port
Zim to Container Ships
Zim Integrated Shipping Services Ltd. will buy two container ships of 2,450 TEU each, and will have an option to buy two more ships of the same size. Three of the ships are slated for delivery during 2010 and the fourth during the first quarter of 2011. The price of the first two ships is $45.9 million each, and the price of the optional ships is $47.8 million each. Source: Globes Online
Zim to Buy Cargo Ships for $266.4m
The board of Zim Integrated Shipping Services Ltd. has approved the purchase of two container ships for $266.4 million and has option on a third, according Globe Online. The ships will be delivered in early 2010. Last June, the company announced plans to buy eight new container ships for $1 billion from South Korea’s Hyundai Shipyards. This purchase will increase Zim’s fleet by 30%. Source: Globe Online
ZIM Introduced Fourth Service
With the first call of container vessel Marseille Star at the HHLA Container Terminal Burchardkai on August 22 at the Port of in Hamburg, ZIM Integrated Shipping Services Ltd. has started its fourth service to the USA. The service is being offered together with Italia Marittima, formerly Lloyd Triestino. The ports of Antwerp, Hamburg, Liverpool, New York and Savannah will be called weekly. For the new service four ships of 1900 to 2000 TEU are being used. They call at Northern European and American ports in a weekly rhythm. • from Hamburg by transhipment via Bremerhaven to the US Gulf Ports by transhipment via Kingston. Thus, at present ZIM offers up to three daily departures from Northern Europe to the USA.
Hapag-Lloyd, ZIM Integrated Agree on Slot Exchange
Hapag-Lloyd and ZIM Integrated Shipping Services Ltd., announced their new slot exchange agreement on the Mediterranean – US trade, between Zim’s ZCS – Zim Container Service and Hapag-Lloyd’s MGX – Mediterranean Gulf Express, as from mid-Feb 2006. The slot exchange covers the following ports: Hapag Lloyd’s MGX will cover Cagliari – Livorno – Genoa – Barcelona – Valencia –Miami – Houston – New Orleans – Cagliari; and Zim’s ZCS will cover Haifa – Piraeus – Livorno – Barcelona – New York – Savannah – New York – Barcelona – Haifa.