ZIM passes threshold
The shipping group ZIM has published its consolidated results for H1/2020. Volumes carried by ZIM went down by 8.4% to 1.3 million teu compared to 1.4 million teu in H1/2019.
Yet, the average freight rate per teu over the period was at USD 1,081 compared to USD 1,005 in the first six months of 2019, a 7.6% increase. Adjusted net profit went from red to black, at USD 26.9 million compared to the adjusted net loss of USD 14.5 million in H1/2019.
Total revenues moved sidewards with USD 1.62 billion compared to USD 1.63 billion in the same period last year, a 0.7% decrease. Adjusted ebitda grew considerably by 32% to USD 242.3 million compared to USD 163.7 million in H1/2019.
Eli Glickman, ZIM president & CEO: "In Q2/2020 we delivered our best results in a decade, which we believe stem from our overall strategy." (mw)