ZIM reports volume losses with 4.3% during first quarter 2019
The Israel-based carrier Zim has tabled its Q1/2019 results. Revenues rose by 6% to USD 796.2 million (Q1/2018: USD 751.4 million), but volumes dropped by 4.3% to 668’000 teu.
The company was able to reduce its Q1/2019 net loss to USD 17.5 million (Q1/2018: USD 26.1 million). Adjusted ebitda surged to USD 69.3 million in Q1/2019 (Q1/2018: USD 27.5 million).
The carrier said in a press release that “the instability and volatility in the market, including significant uncertainties in the global trade, continue to affect the market environment” and spoke of decreased freight rates and rising bunker prices.
Nevertheless, Zim is still banking on its strategic operational cooperation with the 2M Alliance (Maersk and MSC) on several trade lanes between Asia, the East Mediterranean and the US east and west coasts. (kd)
