• 2019 August 21 17:06

    ZIM announces Q2 2019 results

    Confronted with tough business environment, ZIM continued to record improvements and to expand its global network to its customers, the company said in its release.

    In September 2018, the Company launched its strategic operational cooperation with the “2M” Alliance (Maersk and MSC), in several lines between Asia and the US East-Coast. During the first quarter of 2019 the cooperation was expanded in two additional trades: Asia - East Mediterranean and Asia - American Pacific Northwest. During the second quarter of 2019, it was agreed between ZIM and the 2M Alliance to further expand the cooperation to the Asia - US Gulf trade. Theses cooperation agreements enable ZIM to provide its customers with improved product portfolio, larger port coverage and better transit time, while generating cost efficiencies.
     
    Financial and Operating Highlights for the Three Months Ended June 30, 2019
     Total revenues were $834.3 million compared to $803.2 million in Q2 2018, a 3.9% increase
     ZIM carried 731 thousand TEUs compared to 772 thousand TEUs in Q2 2018, a 5.3% decrease
     The average freight rate per TEU was $993 compared to $907 in Q2 2018, a 9.5% increase
     Adjusted EBITDA was $94.4 million compared to $24.3 million in Q2 2018
     EBITDA was $102.0 million compared to $14.9 million in Q2 2018
     Adjusted EBIT was $38.7 million compared to negative Adjusted EBIT of $3.1 million in Q2 2018
     EBIT was $44.2 million compared to negative EBIT of $12.5 million in Q2 2018
     Adjusted net profit was $3.0 million compared to Adjusted net loss of $20.6 million in Q2 2018
     Net profit was $5.1 million compared to Net loss of $33.2 million in Q2 2018
     Operating cash flow was $64.1 million compared to $52.6 million in Q2 2018

    Financial and Operating Highlights for the Six Months Ended June 30, 2019
     Total revenues were $1,630.5 million compared to $1,554.6 million in 1-6 2018, a 4.9% increase
     ZIM carried 1,398 thousand TEUs compared to 1,470 thousand TEUs in 1-6 2018, a 4.9% decrease
     The average freight rate per TEU was $1,005 compared to $922 in 1-6 2018, a 9.0% increase
     Adjusted EBITDA was $163.7 million compared to $51.9 million in 1-6 2018
     EBITDA was $170.0 million compared to $37.5 million in 1-6 2018
     Adjusted EBIT was $60.7 million compared to negative Adjusted EBIT $3.3 million in 1-6 2018
     EBIT was $62.8 million compared to negative EBIT of $17.7 million in 1-6 2018
     Adjusted net loss was $14.5 million compared to $46.7 million in 1-6 2018
     Net loss was $19.2 million compared to $67.3 million in 1-6 2018
     Operating cash flow was $123.8 million compared to $110.5 million in 1-6 2018

    NOTE:As from January 1, 2019 the Company applies IFRS 16 (Leases), resulting in a reduction in the Company’s lease expenses, along with an increase in its depreciation expenses and interest expenses. Accordingly, the comparability of results in prior periods is limited. In addition, as from January 1, 2019 the Company includes its share of profit of associates as part of its Results from operating activities (EBIT), in all reported periods.




2020 August 9

16:21 MPA launches six next-generation patrol craft to grow its frontline capabilities
15:35 Fincantieri Bay Shipbuilding prepares for Navy frigate work
14:03 NCLH reports Q2, 2020 financial results
13:27 USCG Cutter Legare offloads nearly 5,000 lbs. of cocaine, marijuana
12:49 ACBL names Mike Ellis as new CEO
11:17 POAL and ship’s master fined $432,400 for excessive speed

2020 August 8

15:32 NOAA, U.S. Navy will increase nation’s unmanned maritime systems operations
14:31 Sanmars Sirapinar commences operations in Baltic Sea
13:42 USCG accepts newest fast response cutter
12:03 SCHOTTEL propulsion for first-class expedition cruise vessels
11:18 Australia’s new icebreaker on the move

2020 August 7

18:32 Maersk revamps Europe to Middle East & Indian Subcontinent network
18:00 Rosmorport's to beef up its icebreaking fleet to 38 units in 2020
17:00 World’s first zero-emissions top handlers performing well at Port of Los Angeles
16:01 Port of HaminaKotka seven-month volume fell 16.7%
15:09 Launching of Russia’s first LNG-powered passenger ship Chaika held at Zelenodolsk Shipyard
14:21 North Carolina Ports records year-over-year increases in Fiscal Year 2020
14:09 Cargo traffic at Port Kavkaz in January-July rose 9%
13:21 ABP invests in Port of Lowestoft to support UK Southern North Sea energy sector
13:19 Krasnoye Sormovo Shipyard hosts launching ceremony for the RSD59 series MS Pola Marina
12:49 Rosmorport plans expansion of its fleet by 24 newbuilds
12:08 Jan De Nul signs contract with Dogger Bank Wind Farm
11:22 The second tanker manufactured in Azerbaijan launched for the next stage of construction
10:37 MSC’s Golden Horn service links China, Korea & Russia’s east coast
09:59 Ecochlor receives IMO BWMS Code Type Approval
09:51 MABUX: Bunker market this morning, Aug 07
09:16 Baltic Dry Index as of Aug 6
09:12 Crude futures prices turn down again

2020 August 6

19:00 FSL Trust agrees to sell three containerships
18:27 Sumitomo Heavy Industries has been granted an “Approval in Principle” for a medium-size high-pressure LNG dual-fueled tanker
18:21 Port of Rostov-on-Don seven-month volume rises 4% to 12.7 million tonnes
18:07 ICTSI 1H2020 net income down 12% to US$113.4mln
17:26 Royal IHC awarded major contract for supply of FPSO equipment for Yinson
17:25 Vodohod’s newbuild Mustai Karim arrives at Saint Petersburg
16:36 Nevsky Shipyard launches the Pavel Leonov, last ship of PV22 series duo
16:15 North Sea Port, Flemish Waterways plc, Port of Antwerp, Port of Oostende, Port of Zeebrugge, the Agency for Maritime and Coastal Services, and the Joint Nautical Management to introduce SWINg in 2021
15:43 Zelenodolsk Shipyard to host tomorrow launching and keel-laying ceremonies
15:41 Maritime Autonomous Surface Ships Port Network was established in Singapore
14:27 MABUX Bunker Weekly Review
13:54 Tolyattii bound heavylift project cargo successfully handled at Port Bronka
13:27 Alaska Marine Lines rail barges upgrade ballast systems
12:46 Davie confirms polar leadership with icebreaker launch
12:35 Transit container transport by RZD network soars 30% in Jan-Jul
11:40 CMA CGM to launch its ever-faster service connecting Spain with Algeria
11:35 Carnival Cruise Line joins industrywide pause in U.S. through October 31
10:18 Shell signs charter contracts for six newbuild LNG carriers
10:15 Fourth IMO Greenhouse Gas Study: Shipping emissions are projected to increase by up to 50% until 2050, relative to 2018
09:58 The Flemish government, Port of Antwerp and SeReAnt together improve the water quality at the Port of Antwerp
09:26 Baltic Dry Index as of Aug 5
09:21 Crude futures prices resume climb
09:10 MABUX: Bunker market this morning, Aug 06
08:11 NYK starts operation of its first finished-car logistics terminal in Japan

2020 August 5

18:57 Valenciaport triples air quality control cabins
18:16 U.S. Coast Guard suspends search for missing spearfisher off Maui
18:04 Port of Helsinki turnover decreased by 26.7% to EUR 33.4 million in January–June 2020
17:35 A delegation of the Port of Gdansk visits Klaipeda
17:06 Voluntary ship slowdown through Swiftsure Bank begins August 1
16:49 Mississippi River will get deeper
16:39 MOL introduces FOCUS Project Part Ⅲ: Virtual Ship Visit Application 'Fleet Tour'
16:29 Admiralty Shipyards starts building fourth CT-192 series trawler the Kapitan Martynov