ZIM also going strong
The Haifa (Israel)-headquartered shipping group ZIM has published its consolidated results for Q3/2020. From January till September 2020, volumes carried by ZIM went down by 3.9% to 2.04 million teu compared to 2.12 million teu in the same period in 2019.
The average freight rate per teu over the period was at USD 1,116 compared to USD 1,007 in the first nine months of 2019, a 10.8% increase. Adjusted net profit was at USD 175.9 million compared to the adjusted net loss of USD 10.8 million in 2019.
In Q3/2020, net profit was at USD 144.4 million - a record mark for the carrier. Total revenues rose by 6.4% to USD 2.63 billion compared to USD 2.47 billion in the same period last year. Adjusted ebitda grew significantly by 86.5% to USD 503.4 million compared to USD 283.8 million.
Eli Glickman, ZIM president & CEO: "ZIM’s outstanding results in the third quarter represent a new all-time record." (cd)