• 2020 March 20 08:59

    ZIM posts 2019 results

    Confronted with challenging business environment, ZIM continued to improve its performance 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 2019 the cooperation was expanded in three additional trades: Asia - East Mediterranean, Asia - American Pacific Northwest and the Asia - US Gulf. These cooperation agreements enable ZIM to provide its customers with improved product portfolio, larger port coverage and better transit time, while generating cost efficiencies.

    Eli Glickman, ZIM President & CEO, said: “2019 has been a challenging year for the industry which had to cope with the escalation of the US-China trade war whilst simultaneously getting itself ready for the IMO 2020 new regulation enforcement. Despite those difficult market conditions, we delivered a strong operational and financial performance with better EBIT margin contribution than most of our peers. We also accelerated the deleveraging of our balance sheet.

    This clearly indicates that our strategy proves to be fruitful and effective and we intend to continue the path we initiated. We remain committed to our vision and values, focusing on providing exceptional service levels to customers, as reflected in a recent independent survey, ranking ZIM as the best performing global carrier in 2019 in Schedule Reliability. We continue to develop and implement lead innovative solutions, and we remain agile and ready to respond fast to new challenges. I’m convinced that these values will enable us to overcome the current Corona virus crisis, which we all hope will be contained soon".
     
    Financial and Operating Highlights for the Three Months Ended December 31, 2019
     Total revenues were $827.3 million compared to $852.6 million in Q4 2018, a 3.0% decrease
     ZIM carried 698 thousand TEUs, compared to 714 thousand TEUs in Q4 2018, a 2.2% decrease
     The average freight rate per TEU was $1,017, compared to $1,045 in Q4 2018, a 2.7% decrease
     Adjusted EBITDA was $115.4 million compared to $49.0 million in Q4 2018
     EBITDA was $114.7 million compared to $43.6 million in Q4 2018
     Adjusted EBIT was $47.4 million, compared to $20.8 million in Q4 2018
     EBIT was $44.6 million, compared to negative EBIT of $22.6 million in Q4 2018
     Adjusted net profit was $7.6 million, compared to $0.8 million in Q4 2018
     Net profit was $1.2 million, compared to net loss of $46.0 million in Q4 2018
     Operating cash flow was $89.3 million, compared to $60.4 million in Q4 2018
     
    Financial and Operating Highlights for the Year Ended December 31, 2019
     Total revenues were $3,299.8 million compared to $3,247.9 million in 2018, a 1.6% increase
     ZIM carried 2,821 thousand TEUs compared to 2,914 thousand TEUs in 2018, a 3.2% decrease
     The average freight rate per TEU was $1,009 compared to $973 in 2018, a 3.7% increase
     Adjusted EBITDA was $385.9 million compared to $150.7 million in 2018
     EBITDA was $399.7 million compared to $126.3 million in 2018
     Adjusted EBIT was $148.9 million compared to $39.1 million in 2018
     EBIT was $153.0 million compared to negative EBIT of $23.2 million in 2018
     Adjusted net loss was $3.2 million compared to Adjusted net loss $44.6 million in 2018
     Net loss was $13.0 million compared to net loss of $119.9 million in 2018
     Operating cash flow was $370.6 million compared to $225.0 million in 2018
     
    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 10

17:20 HMM joins forces with CMA CGM on TTI Algeciras operation
17:19 Commercial Port of Vladivostok's seven-month container volumes rose 8.1%
17:12 APM Terminals to acquire ALC´s container terminal in Aarhus
17:06 IMO sets remote meeting plan for September-December 2020
16:57 Capesize bulker “Wakashio” aground off Mauritius
16:47 Freight traffic at Russian seaports in Jan-Jul fell 2.1%
15:58 Seven-month coal throughput at Port Vysotsky falls 7.5%
14:27 Vostochnaya Verf launches Grachonok-class anti-saboteur boat (Project 21980) for Pacific Fleet
13:28 ONEGO Shipyard launches a self-propelled hopper barge "Morskaya"
13:22 IMO report on GHG finds a decoupling between trade and emissions in shipping
12:20 Anders Opedal taking over as president and CEO of Equinor from 2 November 2020
10:21 Diana Shipping announces time charter contract for m/v Melia with Ausca
10:17 Containerships and APM Terminals Gijon form eco-friendly intermodal solution connecting Spain, UK and Ireland
09:31 Crude futures prices take upward trend
09:06 Baltic Dry Index as of Aug 7
08:58 MABUX: Bunker market this morning, Aug10

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