• 2018 November 16 15:10

    ZIM announces Q3 2018 results

    ZIM has announced results for Q3 2018. In September 2018, the Company launched its strategic operational cooperation with the “2M” Alliance. According to this cooperation, the Company and the parties of the 2M Alliance (Maersk and MSC) operate together certain lines between Asia and the US East-Coast, enabling ZIM to provide its customers with improved port coverage and transit time, while generating cost efficiencies.

    Eli Glickman, ZIM President & CEO, said: “Q3 2018 was characterized by freight rates increase and the continued rise in fuel costs. ZIM’s Q3 results reaffirm ZIM’s approach of coping with a challenging and volatile business environment. Our strategic operational cooperation with the 2M Alliance in the Asia-US trade is beginning to contribute to our overall results, and we expect it to bear more fruits in the coming quarters. We have a clear path forward, and we remain committed to excellent customer service, as well as providing innovative quality solutions for our customers.”

    Financial and Operating Highlights for the Three Months Ended September 30, 2018

     Total revenues were $840.7 million compared to $816.7 million in Q3 2017, a 2.9% increase
     ZIM carried 730 thousand TEUs compared to 688 thousand TEUs in Q3 2017, a 6.1% increase
     The average freight rate per TEU was $1,006 compared to $1,058 in Q3 2017, a 4.9% decrease
     Adjusted EBITDA was $48.8 million compared to $89.2 million in Q3 2017
     EBITDA was $44.3 million compared to $83.6 million in Q3 2017
     Adjusted EBIT was $20.6 million compared to $61.8 million in Q3 2017
     EBIT was $16.1 million compared to $53.8 million in Q3 2017
     Adjusted net profit was $1.3 million compared to $36.2 million in Q3 2017
     Net loss was $6.6 million compared to net profit of $25.2 million in Q3 2017
     Operating cash flow was $54.1 million compared to $46.4 million in Q3 2017

    Financial and Operating Highlights for the Nine Months Ended September 30, 2018

     Total revenues were $2,395.3 million compared to $2,217.4 million in 1-9 2017, a 8.0% increase
     ZIM carried 2,200 thousand TEUs compared to 1,945 thousand TEUs in 1-9 2017, a 13.1% increase
     The average freight rate per TEU was $950 compared to $1,008 in 1-9 2017, a 5.8% decrease
     Adjusted EBITDA was $97.5 million compared to $216.7 million in 1-9 2017
     EBITDA was $78.6 million compared to $197.7 million in 1-9 2017
     Adjusted EBIT was $14.1 million compared to $136.2 million in 1-9 2017
     EBIT was negative $4.8 million compared to EBIT of $114.8 million in 1-9 2017
     Adjusted net loss was $45.4 million compared to adjusted net profit of $51.3 million in 1-9 2017
     Net loss was $73.9 million compared to net profit of $21.1 million in 1-9 2017
     Operating cash flow was $164.6 million compared to $169.2 million in 1-9 2017

    About ZIM: Since 1945, ZIM provides creative operational and logistical solutions to customers. Over the years ZIM has grown to become a leading force in the shipping industry.




2018 December 11

13:15 Throughput of port Kavkaz in 11M’18 grew by 13% Y-o-Y to 45.61 million tonnes
13:02 COSCO SHIPPING Ports and Abu Dhabi Ports inaugurate CSP Abu Dhabi Terminal
12:46 Throughput of Russian seaports in 11M’18 grew by 4.2% to 746.81 million tonnes
12:13 Alfa Laval sells more than 100 GCU units for LNG newbuilds
12:01 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
11:44 One icebreaker escort operation performed in eastern part of Gulf of Finland during 24 hours on December 10-11
11:40 The second phase of IMO-implemented safe and sustainable ship recycling project in Bangladesh starts
11:17 Bunker prices are flat at the Far East ports of Russia (graph)
10:58 NYK сoncludes long-term charter agreement for three LNG carriers with MC
10:30 MAN Cryo and partners develop marine liquid-hydrogen fuel-gas system
10:05 Port of Gdansk reports new quarterly record
09:39 Brent Crude futures price up 0.37% to $60.19, Light Sweet Crude – up 0.31% to $51.16
09:16 Baltic Dry Index is up to 1,385 points

2018 December 10

18:08 US major retail container ports imports reach 2 million containers in October 2018
17:50 Taganrog Sea Commercial Port spent USD 67,300 for its environmental programme in 9M’2018, up 6% YoY
17:27 Icebreakers of FSUE Rosmorport assisted 322 ships in navigation season 2018-2019
17:06 Nexans awarded contract for the manufacturing, delivery and installation of 350 kV HVDC submarine cable in the Philippines
16:49 Throughput of port Riga (Latvia) in 11M’18 climbed by 6.5% Y-o-Y to 33.1 million tonnes
16:33 Konstantin Ponomarev appointed as head of RS Nuclear Ships Branch
16:10 Ship Recycling Transparency Initiative launches new online platform
15:58 MOL to participate in construction, ownership, operation of FSRU for Jawa 1 gas-fired IPP project in Indonesia
15:52 MOL LNG сarrier LNG Fukurokuju rescues castaway
15:26 Gasum consolidates its position as the leading Nordic LNG provider
14:58 NIBULON Shipbuilding and Repair Yard adds a new high-capacity German crane to its cranes
14:25 BIMCO publishes two 2020 sulphur clauses
14:00 Average wholesale prices for М-100 HFO down to RUB 16,794 in RF spot market
13:09 EU NAVFOR marks 10 years of operations
12:44 Pertti Korhonen to chair Traffic Management Finland BoD
12:07 Incheon Port container traffic increases by 10.4% in October 2018
11:51 Beginning of icebreaker assistance period announced at Big Port St. Petersburg
11:30 Cargo traffic in Volga Basin of Russia’s IWW in navigation season 2018 fell by 14.6% Y-o-Y to 36.662 million tonnes
11:07 Verifavia Shipping signs cooperations with 8 ROs to support IMO DCS verification
10:48 Port of Liepaja (Latvia) handled 6.89 million tonnes of cargo in 11M'18, up 13.8% Y-o-Y
10:24 Port of HaminaKotka throughput in 11M’2018 grew by 11.5% Y-o-Y to 14.89 million tonnes
10:07 Oman signs Jeddah Amendment on illicit maritime activity
09:45 Brent Crude futures price up 0.45% to $61.95, Light Sweet Crude – up 0.17% to $52.52
09:19 Baltic Dry Index is up to 1,372 points
09:07 CMA CGM announces FAK rates from Asia to the Middle East Gulf
08:07 Torqeedo displays 2019’s new electric boating products at Salon Nautique International de Paris
07:34 chainPORT concludes its 4th Annual Meeting at the Port of Barcelona

2018 December 9

17:01 Jan De Nul starts beach protection project in Benin
16:06 MOL to participate in construction, ownership, operation of FSRU for Jawa 1 Gas-Fired IPP Project in Indonesia
14:40 Coast Guard continues search for survivors of capsized migrant vessel off Dominican Republic
13:38 CMA CGM announces FAK rates for Asia-Middle East Gulf trade
11:39 MHI Vestas clinches largest MW turbine order for Scotland's Moray Firth

2018 December 8

17:15 Huntington Ingalls Industries names Herman Shelanski as new VP, Business Development at it's shipbuilding division
16:07 Gladding-Hearn built pilot boat delivered to Southwest Alaska Pilots Association
13:12 EGCSA blasts MPA's ban on open-loop scrubbers in Singapore
10:28 Torqeedo displays 2019’s new electric boating products at Salon Nautique International de Paris.

2018 December 7

18:01 Naming ceremony for Arctic condensate tanker Boris Sokolov held at Guangzhou Shipyard International
17:38 Tellurian and Vitol sign MOU for 15-year LNG sale on JKM
17:14 Port of Tallinn rewards emission-reducing ships with a discount of up to 8% on tonnage fees
16:50 Vladimir Putin presents Captain Zybko with Distinguished Maritime Service Order
16:26 BSAP updates move forward at HELCOM key meeting
16:02 Orange Business Services keeps Arctic Shipping Company fleet connected along the Northern Sea Route
15:37 EU NAVFOR promotes maritime security dialogue in Somalia
14:59 Protection structures to be built at the port of Sochi
14:25 Northern Fleet's frigate Admiral Gorshkov takes part in training in the Barents Sea
14:08 ABS signs MOU with KOMERI to create a new facility dedicated to improving the safety of LNG as fuel
13:08 Crowley adds 400 new refrigerated containers to its fleet