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. ZIM’s Q2 results reflect the constant improvement in the company’s performance, as a result of the comprehensive transformation the company has implemented in recent periods.
ZIM reported an adjusted EBITDA of $70.1 million in Q2 2017 compared to negative $15.9 million in Q2 2016, with an adjusted EBITDA margin of 9.4%. The carried quantities increased by 6.7% to 659 thousand TEUs in Q2 2017, compared to 617 thousand TEUs in the same period of 2016.
Eli Glickman, ZIM President & CEO, said: “ZIM’s positive results in Q2 demonstrate an ongoing, steady improvement in the company’s performance. We focus on achieving profitability through efficiency, innovation, and above all reliable and agile services to our customers. Our customer-centered approach is at the root of our strategy, and as an independent global niche carrier we can provide unique and flexible services to our customers. I’m confident that this approach will enable ZIM to prevail and achieve additional improvements in the coming years."