• 2016 May 27 09:26

    ZIM EBITDA in Q1 2016 remains positive at $8 million

    ZIM Integrated Shipping Services Ltd., one of the world’s leading container shipping carriers focusing on trades in select markets, today announced financial results for the three month period ended March 31, 2016.

    ZIM recorded an adjusted EBITDA margin of 1.3% and an adjusted EBIT margin of negative 2.6%. This compares to an adjusted EBITDA margin of 10.7% and an adjusted EBIT margin of 7.7% in the first quarter of 2015.

    In spite of the adverse market situation, ZIM maintained its competitive position, in terms of EBIT Margins, vis-à-vis the industry, as the Company incurred a lower year-over-year decline in freight rates and higher growth in carried TEU volume compared to the industry’s average. The company accomplished these results in a deteriorating market environment, characterized by worsening overcapacity and slower growth of demand resulting in historic low freight rates. The Shanghai Containerized Freight Index (SCFI) reached the levels of 400 points during the first quarter, compared to an average of 989 points in Q1 of 2015, marking a new record low, while idled fleet continued to increase, topping 1.5 million TEUs. Significant changes in the industry, including mergers and acquisitions and restructuring of global alliances, also add volatility and uncertainty in the market. These negative trends continued subsequent to the quarter end.

    Rafi Danieli, ZIM’s President and CEO, said: “The very challenging market situation impacts the industry as a whole. ZIM continues to make progress with its extensive cost-cutting and efficiency projects, along with investment in customer service excellence, as evident in a recent first place ranking awarded to ZIM in a schedule reliability report. Our asset-light business model facilitates a highly flexible and cost-efficient fleet management, which, together with our pro-active optimization and rationalization of the Company’s line network, proves crucial in the current market environment. Our strategic business plan, focusing on select markets where the Company has a competitive advantage, aims at allowing ZIM to cope with the challenges faced by the industry.”
     
    Financial and Operating Highlights
    The first quarter of 2016 was characterized by historically low freight rates. The average freight rate per TEU carried was $943 in the first quarter of 2016, reflecting a 25% decrease compared to the respective period last year. As a result of significantly lower freight rates, total revenues in the quarter decreased by 20% to $630 million, compared with $792 million in the same period last year.  

    The Company carried 577,000 TEUs in the first quarter of 2016, reflecting a 3% increase compared to the same period last year.
    Financial Highlights for the Three Months Ended March 31, 2016

    Adjusted EBIT was negative $16 million, compared to positive $61 million for the first quarter of 2015
    Adjusted EBITDA was $8 million, compared to $85 million for the first quarter of 2015
    EBITDA was $2 million, compared to $69 million for the first quarter of 2015
    Operating cash flow was negative $15 million, compared to positive $54 million for the first quarter of 2015




2020 July 2

09:28 MABUX: Bunker market this morning, July 02
09:23 Inaugural meeting of the international advisory panel on maritime decarbonisation
09:18 Baltic Dry Index as of July 1

2020 July 1

16:18 COVID-19 dampens long-term energy demand and highlights scale of climate emergency
15:52 Konecranes receives order from Louisiana for two portal harbor cranes
14:26 Panama emphasises its support for seafarers' rights
13:43 DNV GL grants type approval for Aquarius UV / EC BWMS
12:36 ICS: Global shipping fleet to sound horns on 8 July to remind governments over need for urgent crew change
11:09 Aker Solutions awarded letter of intent for Askeladd Vest
10:33 MABUX: Bunker market this morning, July 01
10:09 Damen delivers custom RHIB to Naarden Lifeboat
09:37 GTT receives a new order from DSME for the design of two large Floating LNG Storage Units

2020 June 30

19:07 Wan Hai Lines to launch Taiwan to Vietnam and Thailand services coverage
18:37 Valenciaport joins the “World Aids to Navigation Day” with the lighting of its headlights
18:12 Third stage of "Sea Cup 2020" competition begins
18:07 BPA attempts to cut fine dust level in Busan Port by developing green equipment
18:02 Damen concludes keel laying on 75-metre crane barge for a project in Panama
17:50 Bunker prices decrease at the Port of Saint-Petersburg, Russia (graph)
17:46 Diana Shipping announces signing of a supplemental agreement with BNP Paribas and the sale of a Panamax dry bulk vessel
17:27 BIMCO publishes Covid-19 crew change clause
17:04 Artemis Technologies to build zero emissions ferries following £60M funding
16:41 Seven port projects to compete for ESPO Award 2020
16:25 BLRT Grupp shipped last sections of railway bridge to Stockholm
16:04 Port of Melbourne welcomes largest containercapacity ship to dock in Melbourne
15:46 Knyaz Vladimir submarine of RF Navy’s fleet went to the White Sea starting its first base-to-base passage
15:03 World's first full scale ammonia engine test - an important step towards carbon free shipping
14:48 Severnaya Verf to build four long-liners of 200101 design for NOREBO Group
14:12 Hapag-Lloyd announces GRI from North East Asia to Australia
13:58 MSC Cruises and Chantiers de l’Atlantique celebrate key construction milestone for LNG-propelled MSC World Europa
13:33 RS publishes autonomous vessel classification advisory
13:11 Port of Oakland Oks FY 2021 budget midst COVID-19 crisis
12:50 Bunker market sees mixed price movements in the Far East ports of Russia (graph)
12:01 Valenciaport will invest 136 million in the Port of Sagunto
11:49 Gasum opened a new shipping fuel station at Ports of Stockholm
11:10 Wärtsilä and Pastrovich Studio sign agreement to develop a sustainable hybrid boutique cruise vessel
10:34 Admiralteiskie Verfi laid down yet another freezing trawler of Project СТ-192 for RFC
10:06 New Chairman appointed to the National Maritime Safety at Sea Council
09:46 Oil prices are slightly down
09:28 Baltic Dry Index as of June 29
09:15 MABUX: Bunker market this morning, June 30

2020 June 29

19:07 GTT takes the lead in the 2019 French list of ETI patent applicants
18:37 PortXL presents 22 promising and innovative maritime start-ups and scale-ups
18:07 Aker Solutions secures maintenance and modifications work for Aker BP
17:52 United Shipbuilding Corporation set to occupy about 57% of Russia’s shipbuilding market by 2030
17:30 Fincantieri announces steel cutting of the forward section for Chantiers de l’Atlantique
17:06 Djibouti organises first crew-change in over a year for seafarers stranded due to Covid-19
16:31 Norsepower unveils first tiltable Rotor Sail installation with SEA-CARGO agreement
16:26 Admiral Makarov frigate of RF Navy’s Black Sea Fleet conducted exercises in the Mediterranean Sea
15:59 Stena Line starts the construction of two new larger E-Flexer ferries
15:27 Nuclear-powered icebreaker Arktika to be deployed in winter navigation season of 2020-21
15:04 Water transport passengers can make use of carriers’ services during 18 months from voyage cancellation
14:38 Portugal's Navalrocha shipyard reports flurry of deals in 2020, with busy schedule ahead
13:59 Average wholesale prices for М-100 HFO rose to RUB 9,865 in RF spot market
13:02 Yamal LNG extends validity of certificates on compliance with ISO standards
12:36 Cruise companies around the world are actively accepting reservations and preparing for the 2021/2022 tourist season
12:13 Diesel submarine of RF Navy’s Pacific fleet held tactical exercise in the Sea of Japan
11:35 NORDEN orders four dry cargo “Ultramax” ships
10:38 Ferry connections between Finland and Estonia are better than ever
10:14 Oil prices are decreasing
09:59 Federal Transport Authority signs MOU with subsidiary of Abu Dhabi Ports