Israeli container shipping line Zim today posted a first-quarter net loss of $11.9m, halving last year’s Q1 $24.3m of red ink.
The company said volumes during the period declined 4.5% year on year to 638,000 teu, but revenue increased 3.4%, to $823.2m, on the back of a 7.1% hike in the average freight rate, to $1,091 per teu.
Chief executive Eli Glickman said: “I’m pleased to report a significant improvement in Zim’s …
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