Pain within the containershipping sector isn’t unusual in 2023, and Israel’s ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) isn’t any exception, right this moment reporting 2Q and 6 month outcomes:
“We continue to take proactive steps to respond to current market realities, with a focus on minimizing costs while optimizing our commercial strategy,” mentioned Eli Glickman, ZIM President & CEO. While Glickman mentioned ZIM “have taken action to rationalize our existing capacity,” long term into 2024 and past “we expect our cost structure to improve in tandem with the delivery of our … fuel-efficient, newbuild tonnage, including 28 LNG-powered vessels.”
With a projected soft peak season approaching, ZIM forecasts full year Adjusted EBITDA of $1.2 billion to $1.6 billion and Adjusted EBIT loss of $500 million to $100 million in 2023.
Six Months Results
ZIM reported operating results for the six months ended June 30, 2023″
Eli Glickman, ZIM President & CEO. Photo courtesy ZIM
