• 2019 March 22 10:08

    ZIM net loss up to $119.9 million in 2018

    Confronted with tough business environment, ZIM continued to record improvements and to introduce new services to its customers, the company said in its release.

    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 several lines between Asia and the US East-Coast. In January 2019, The Company and the members of the 2M Alliance announced a second strategic cooperation agreement in two additional trades: Asia - East Mediterranean and Asia - American Pacific Northwest.

    Eli Glickman, ZIM President & CEO, said: “During 2018, we have commenced the first phase of our strategic operational cooperation with the 2M Alliance, recently expanded to two additional trades. The agreement enables ZIM to offer better product and service portfolio to our customers, and cope with the volatile freight rates and fuel prices. We were able to achieve improved cost efficiencies while significantly increasing the transported volumes. At the same time, we continue to put our customer service at the center, introducing new services and investing in innovative digital solutions"

    Financial and Operating Highlights for the Year Ended December 31, 2018

     Total revenues were $3,247.9 million compared to $2,978.3 million in 2017, a 9.1% increase
     ZIM carried 2,914 thousand TEUs, compared to 2,629 thousand TEUs in 2017, a 10.8% increase
     The average freight rate per TEU was $973, compared to $995 in 2017, a 2.2% decrease
     Adjusted EBITDA was $145.3 million, compared to $270.1 million in 2017
     EBITDA was $121.0 million, compared to $245.8 million in 2017
     Adjusted EBIT was $33.7 million, compared to adjusted EBIT of $161.7 million in 2017
     EBIT was negative $28.6 million, compared to EBIT of $135.1 million in 2017
     Adjusted net loss was $44.6 million, compared to adjusted net profit of $50.0 million in 2017
     Net loss was $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
     Operating cash flow was $225.0 million, compared to $230.9 million in 2017

    Financial and Operating Highlights for the Three Months Ended December 31, 2018

     Total revenues were $852.6 million compared to $760.9 million in Q4 2017, a 12.1% increase
     ZIM carried 714 thousand TEUs, compared to 685 thousand TEUs in Q4 2017, a 4.2% increase
     The average freight rate per TEU was $1,045, compared to $959 in Q4 2017, a 9.0% increase
     Adjusted EBITDA was $47.8 million compared to $53.4 million in Q4 2017
     EBITDA was $42.4 million compared to $48.1 million in Q4 2017
     Adjusted EBIT was $19.6 million, compared to adjusted EBIT of $25.5 million in Q4 2017
     EBIT was negative $23.8 million, compared to EBIT of $20.3 million in Q4 2017
     Adjusted net profit was $0.8 million, compared to adjusted net loss of $1.3 million in Q4 2017
     Net loss was $46.0 million (including an impairment loss of $38.0 million with respect to vessels classified as held-for-sale), compared to net loss of $9.7 million in Q4 2017
     Operating cash flow was $60.4 million, compared to $61.7 million in Q4 2017




2019 June 19

13:02 Van Oord awarded large contract for Mozambique LNG project
12:34 NIBULON Shipbuilding and Repair Yard starts constructing vessels of new project
12:12 ICS meets in Faroe Islands
11:58 Frigate Admiral Gorhskov of RF Navy's Northern Fleet sails through Panama Canal
11:37 Ship inspection platform Idwal urges investors to carry out due diligence on asset condition as standards decline
11:19 WMU signed MOU with Higher Institute of Maritime Studies, Morocco
11:12 Damen signs Phase II contract with International Organization for Migration for nine additional SAR 1906 search and rescue boats
10:55 ABB wins system package with Keppel for dredging contractor Van Oord
10:33 Lavna coal terminal to reach design capacity of 18 million tonnes in 2022
10:00 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:38 MABUX: Bunker Market this morning, June 19
09:32 Brent Crude futures price is up 0.03% to $62.16, Light Sweet Crude – up 0.22% to $54.23
09:15 Baltic Dry Index is up to 1,135 points

2019 June 18

18:36 Spotlighting IMO's actions on climate change
18:31 Transborders Energy signs joint study agreement with Kyushu Electric Power for FLNG Solution
18:06 Kim Heng Offshore & Marine Holdings signs MoU with HHC and Thaitan
18:03 Container service boost at Bristol Port
17:53 IMO and UN Environment – working together to keep the Mediterranean clean
17:36 ZIM introduces myZIM Personal Notifications
17:21 Incat launches a new 111-metre ferry for Spain
17:06 Hapag-Lloyd announces General Rate increase from Japan to Middle East
16:42 Nor-Shipping 2019 sets new records
16:20 Fincantieri and CNR present the results of six multidisciplinary research projects
16:04 Atlantic Towing buys Havyard 833 WE – build no 126
15:25 Live stream of IWW passenger transportation meeting, part of SmartTRANSPORT, starts on IAA PortNews website at 10:00, June 21
15:04 Port of Oakland approves Seaport Air Quality 2020 and Beyond Plan
14:33 Carnival Mardi Gras cruise ship hull assembly begins at Meyer Turku shipyard
14:02 Hapag-Lloyd announces FAK from East Asia to Europe and Mediterranean
13:30 Port of Singapore bags “Best Seaport in Asia” for 31st time and also “Best Green Seaport”
13:02 Major shipping banks to launch the Poseidon Principles in line with IMO’s Greenhouse Gas strategy
12:41 Russia's Main Department of State Expertise approves revised project for Phase 1 of dry bulk terminal in Taman
12:28 Bunker prices show slight changes at the Far East ports of Russia (graph)
12:24 Jan De Nul secures Formosa 2 OWF contract in Taiwan and underlines its expansion in Asian OWFs
12:05 AtoB@C starts to offer port towage and related services in Port of Raahe
11:39 East-Siberian Inland Navigation Company launches bunkering tanker of Project RT37 for Baikal
11:16 Regional Manager Simon Neo set to leave IBIA
10:52 IBIA board member elected President of the Panama Maritime Chamber
10:47 NAVTOR integrates environmental regulations into voyage planning with Total Marine Solutions MOU
10:27 Maritime spatial planning in the Baltic Sea region easier with BASEMAPS
09:53 Brent Crude futures price is down 0.05% to $60.91, Light Sweet Crude – down 0.1% to $51.88
09:35 MABUX: Bunker Market this morning June, 18
09:15 Baltic Dry Index is up to 1,093 points

2019 June 17

18:24 USCG saves six people, tows disabled vessel in Port Etches
17:59 Denis Krylov appointed General Director of Gazpromneft-Sakhalin
17:28 China and South Korea agree on ballast water exchange rules
17:04 Mermaid Maritime borrows a loan of USD 65 mln to extend the financing of two vessels
16:41 Neptune Lines welcomes Neptune Galene & Neptune Thalassa after scrubber installation
16:23 DG Termināls invests about 1 million euros during the year
16:17 Finnish ferry getting a diesel-electrical drivetrain system
16:04 MSC Katya R. sets record as largest container ship to boost Costa Rican export links to Europe
15:45 Singapore to host 18th Vessel Efficiency & Fuel Management Summit
15:26 Onezhsky Shipyard launches multifunctional buoy tender for Volga-Baltic Basin
15:04 Hunter Group sells one vessel
14:42 Gdansk, Poland to host 6th Operating Specialist Wind Vessels Summit
14:19 Seatrade Europe conference programme to include Marine Interiors specialist panel discussions
14:12 ClassNK releases amendments to class rules
13:55 Finland hosts an EU–China maritime meeting
13:31 AWT completed stage III of modernization and expansion of the Paskov Terminal
13:24 Average wholesale prices for М-100 HFO down to RUB 16,007 in RF spot market
13:10 The Irish Port of Cork and Port of Amsterdam to collaborate