ZIM overturns prior year losses

ZIM has posted annual results showing its EBITDA was $246m, up for -$50m in 2016. Total revenues were $2,978m, up 17% from the year before. It also overturned its adjusted net loss from the year before, to make $50m in profit.

ZIM carried 2,629 thousand TEUs, its all-time record of containers carried, representing an 8% increase from the year before.

Eli Glickman, ZIM’s President & CEO, said: “I’m proud to say that ZIM’s financial results position us at the very top of the shipping industry. ZIM is undergoing a profound process of change and improvement in all aspects of its activity, as is evident from its 2017 results.

Source: ZIM