ZIM performs better in 2019
Haifa (Israel)-headquartered ZIM Shipping Integrated Services witnessed improved figures in the course of the full year of 2019. Back in the black, ZIM’s 2019 net profit was at USD 12.0 million in 2019 (adjusted, pre IFRS16), compared to an adjusted net loss of USD 44.6 million in 2018. Total revenues in 2019 amounted to almost USD 3.3 billion, reflecting an increase of 1.6% - "the highest in the last five years," as the company said in a press release.
While instability and volatility in the market prevail, including significant uncertainties in the global trade, mainly due to USA related trade restrictions and the recent escalation of the coronavirus outbreak, ZIM continues its strategic operational cooperation with the “2M” Alliance (Maersk and MSC).
Eli Glickman, ZIM president & CEO, said: “2019 was a challenging year, but we accelerated the deleveraging of our balance sheet.” In a recent independent survey, ZIM was the best performing global carrier in 2019 in schedule reliability. (mw)