• 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




2020 September 30

09:36 MABUX: Bunker market this morning, Sept 30
09:35 Scorpio Bulkers announces the sale of a Kamsarmax vessel
09:27 Oil prices continue decreasing
09:12 Baltic Dry Index as of September 29
08:33 Keppel reaffirms Vision 2030 and rolls out next steps for implementation
07:29 ADNOC signs 25-year agreement to service all petroleum ports in Abu Dhabi

2020 September 29

19:01 Carnival Cruise Line’s Mardi Gras departs on sea trials
18:37 Great Lakes announces receipt of $105 mln Jacksonville deepening award
18:03 Kongsberg Digital wins contract to deliver cutting-edge engine room simulator to German training institute
17:55 Murmansk Commercial Seaport expands its fleet of equipment
17:31 Milaha signs deal with Schlumberger
17:16 Expansion of Aberdeen Harbour by Van Oord in full swing
17:08 HHLA invests in the Adriatic Port of Trieste
16:29 Record-high number of international cruise ships to arrive at the Port of HaminaKotka next year
16:05 Hamworthy Pumps makes strong re-entry to tanker market
15:44 New BIMCO Shipping KPI version offers improved benchmarking concept
15:32 Free energy scan for inland vessels is to stimulate the use of shore power
15:05 Mir sailing training ship accepts new shift of cadets
14:30 Admiral Essen frigate of RF Navy’s Black Sea Fleet passes Black Sea Straits towards Mediterranean Sea
13:58 Traficom surveyed Maritime professionals’ opinions regarding N2000 fairway and nautical chart reform
13:13 Victor Shitukhin is appointed as Acting Director of its Ship Repair Plant ‘Nerpa’
12:49 Lotos shipyard lays down two self-propelled dredgers
12:11 Bunker prices decrease in the Far East ports of Russia (graph)
11:47 Port of Antwerp focuses heavily on general cargo: search begun for breakbulk candidate for Churchill Dock
11:27 Joint oil spill exercise tests inter-agency response and cooperation amidst COVID-19 pandemic
10:46 New impetus for digitalization of shipping in the COVID-19 pandemic
10:09 IAPH presents guidelines for LNG-powered vessels during port calls
09:54 Oil prices are decreasing
09:35 Port Authority of Singapore holds joint oil spill exercise
09:15 Baltic Dry Index as of September 28
08:58 MABUX: Bunker market this morning, Sept 29

2020 September 28

18:57 Okeanis Eco Tankers announces one year VLCC time charter
18:27 Bumi Armada secures third FPSO project in India
18:07 Wilhelmsen and thyssenkrupp step-up collaboration, establishing 3D printing joint venture targeting the maritime industry
17:59 RF Government to allocate RUB 27.6 billion for construction of two scientific research ships
17:28 Port of Long Beach announces closure of traffic routes leading to the Gerald Desmond Bridge
17:05 Maersk Supply Service and Ørsted to test offshore charging buoy to reduce vessel emissions
17:02 Oboronlogistics completed Northern Delivery programme of 2020
16:56 UTLC ERA JLC and Belintertrans-Germany GmbH open joint end-to-end regular multimodal service from China to Western Europe
16:37 Atommash shipped Reactor Pressure Vessel for Turkey's first nuclear power plant
16:14 The digital transformation is accelerating, and insurers and underwriters must adapt, says IUMI
15:51 Ships of RF Navy's Black Sea Fleet returned to their permanent locations after "Kavkaz-2020" maneuvers
15:29 New railway bridge over Kolar river put into operation in Murmansk Region
15:13 BIMCO to push for international guidelines for ship/shore communication at IMO
14:12 Submersible robot buries power cables for offshore wind farms 5.5 metres below seabed to the north of Maasvlakte
13:53 Moscow Exchange registered debut bond issue by FSUE "Rosmorport"
13:30 Blanket repair begins at Beloomut dam’s second section
13:12 Busan Port Authority concludes an agreement to establish a smart maintenance system for port facility
12:54 Average spot market price for Russian M100 product fell to RUB 11,773 pmt
12:11 Abu Dhabi Ports acquires MICCO to become a leading provider of fully integrated supply chain logistics solutions
11:36 RF Government approves National Programme for Far East Development
11:13 Aker Solutions awarded subsea contract for Breidablikk
10:51 Hornsea Two monopile installation scheduled to start next month
10:21 Shipbuilding, Ship Repair Corporation launches non-self-propelled suction hopper dredger of Project 4395
09:52 Tallink suspends operation of Helsinki-Riga route until end of October
09:30 Tallink changes weekend operating schedule of Tallinn-Helsinki route shuttle vessel Star
09:14 Baltic Dry Index as of September 25
08:48 MABUX: Bunker market this morning, Sept 28

2020 September 27

16:43 Milaha signs key deal with major oilfield services firm
15:31 RINA and SDARI: an innovative step towards 3D ship classification