‘Revitalized’ ZIM Posts Biggest Yearly Profit

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    Greensea Systems
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    By Mike Wackett (The Loadstar) –

    Israeli ocean carrier Zim has posted its first annual profit for three years – and the biggest in its 75-year history – recording a net income of $524m for 2020 and claiming it is a “revitalised company”.

    Zim carried an-above industry par 0.7% more containers last year than in 2019, at 2,841,000 teu, and revenue jumped 21%, compared with the previous year, to $4bn, for an ebitda of $1.04bn, up from $399m in 2019.

    Its average freight rate was also up, by 21%, to $1,229 per teu, compared with liner peers CMA CGM’s $1,154 and Maersk’s $1,000.

    Read more by visiting gCaptain.

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