ZIM posts Q2 2016 results
ZIM Integrated Shipping Services Ltd., one of the world’s leading container shipping carriers , has announced financial results for the three month period ended June 30, 2016.
ZIM had reached an agreement with its creditors for rescheduling of payments in a total amount of approximately US$ 115 million, during a period of up to 12 month starting on September 30, 2016.
ZIM carried 617,000 TEU’s in Q2 2016, a 6.9% increase compared to Q1 2016, which is above market average growth for same period.
ZIM’s strategy and new organizational structure enables the company to react fast to market changes and to operate an efficient and reliable network of lines and services, focusing on select trades where the company have competitive advantage.
The company continues to invest in customer service excellence and on-time delivery to customers, developing and introducing new cutting-edge, digital customer service systems to further improve our customer interface.
Rafi Danieli, ZIM’s President and CEO, said: “The very challenging market situation impacts the industry as a whole. Our strategic business plan, focusing on select markets where the company has a competitive advantage, is keeping ZIM in the top of the industry in terms of EBIT margins. The company keeps investing in customer service excellence and on-time delivery to our customers, as evident in a recent first place ranking awarded to ZIM in a schedule reliability performance report. We have increased our carried TEU in Q2 over Q1 by about 7%, which shows the trust of our customers in the company. Our fast reaction to market changes, and cost efficiency programs, aims at allowing ZIM to cope with the challenges faced by the industry".