Zim Integrated Shipping Services

Jaxport adding more global container services in 2025

A host of ocean container lines are adding the Port of Jacksonville, Florida, to their services in 2025.

The new calls come as Maersk and Mediterranean Shipping Co. (MSC) dissolve their 2M Alliance vessel-sharing agreement as of January.

Jaxport said in a release that three primary changes are taking place beginning in February 2025.

The Gemini Cooperation alliance between Maersk and Hapag-Lloyd will now call Jaxport as part of a new, direct service that also calls Cartagena, Colombia. Gemini will...

https://www.freightwaves.com/news/jaxport-adding-more-global-container-services-in-2025

Red Sea attacks turn green for Zim investor

Idan Ofer has seen enough.

Israel’s richest man is exiting Zim Integrated Shipping Services as attacks on vessels in the Red Sea by Houthi rebels disrupted global supply chains but sent carrier profits, including Zim’s, soaring.

Ofer’s Kenon Holdings is selling approximately 30 million shares with an aggregate market value of $719 million in two blocks through J.P. Morgan and Citigroup, according to a notice posted by Zim (NYSE: ZIM) on its website Friday.

ZIM’s shares have appreciated by 260% in...

https://www.freightwaves.com/news/red-sea-attacks-turn-green-for-zim-investor

Zim Q3 powered by spot market, new ships 

Zim Integrated Shipping Services saw record volumes in the third quarter that contributed to revenue of $2.77 billion, up from $1.3 billion a year ago, and net income of $1.3 billion, from a loss of $2.2 billion.

Adjusted pretax earnings came in at $1.53 billion for the quarter ended Sept. 30 from $214 million year over year, and adjusted operating profit totaled $1.24 billion, from $2.3 billion. Adjusted pretax and adjusted operating margins were 55% and 45%, respectively.

Volume grew 12% y/y to...

https://www.freightwaves.com/news/zim-q3-powered-by-spot-market-new-ships

ZIM expands global smart container rollout with Hoopo’s advanced tracking

ZIM announced that it is expediting the global rollout of smart containers, enhancing supply chain transparency and visibility with Hoopo’s advanced hoopoSense Solar trackers.

With rising demand for accurate, real-time supply chain visibility, ZIM’s smart container solution offers customers precise data, ensuring reliable tracking throughout the shipment process, including the inland journey. This enables full transparency and a more precise ETA, even as containers move beyond terminals or...

https://container-news.com/zim-expands-global-smart-container-rollout-with-hoopos-advanced-tracking/

Canada underprepared for marine emergencies, transportation officials say

The Transportation Safety Board of Canada (TSB) says the Zim Kingston accident in 2021 raises questions about the adequacy of Canadian resources in emergencies that could pose risks to marine vessels, the environment and the general public.

TSB issued that warning during a news conference Wednesday releasing its investigation into the accident. In October 2021, the Zim Kingston lost 109 containers overboard off the west coast of Vancouver Island and subsequently caught fire near Victoria,...

https://www.freightwaves.com/news/canada-underprepared-for-marine-emergencies-transportation-officials-say

Is Wall Street warming back up to containership line Zim?

For nearly two years, capital markets have punished Zim, the Israeli containership line whose fleet is the 10th-largest on the ocean. Zim’s model, which involves operating a subscale, highly chartered fleet of smaller vessels almost wholly exposed to the spot market, took a beating when collapsing spot rates collided with its high COVID-era lease expenses. The stock peaked at $84.50 per share on March 18, 2022, and took a series of nosedives before finally bottoming at $6.59 on Nov. 28, 2023.

Bu...

https://www.freightwaves.com/news/is-wall-street-warming-back-up-to-containership-line-zim

Are ocean spot rates past their peak?

2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. 

Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and taxes fell by $1.77 billion to a loss of $213 million. The Freightos Baltic Daily Index from China to the North American west coast...

https://www.freightwaves.com/news/have-ocean-spot-rates-passed-their-peak

COLUMN | Ammonia and LNG: toxic start to the new year for Fortescue, Equinor and the IMO? [Offshore Accounts]

Happy New Year to one and all, though one of the biggest challenges the marine, port, and bunkering industries will face in 2024 is the challenge of future fuels. You could do my job – the marine fuels op-ed primer Writing about the problems the marine industry faces is easy – you begin by stating...

https://www.bairdmaritime.com/work-boat-world/offshore-world/column-ammonia-and-lng-toxic-start-to-the-new-year-for-fortescue-equinor-and-the-imo-offshore-accounts/

How much will container lines ‘earn’ in 2023? It depends on the metric

Berkshire Hathaway’s Charlie Munger once famously said, “Every time you hear ‘EBITDA,’ just substitute the phrase ‘bullshit earnings.’”

Public shipping companies in different segments highlight different earnings metrics. Tanker and dry bulk owners focus on adjusted net income. Listed container shipping lines often highlight adjusted earnings before interest, taxes, depreciation and amortization.

EBITDA has been criticized for decades — Munger’s quote is from Berkshire Hathaway’s 2003 annual...

https://www.freightwaves.com/news/how-much-will-container-lines-earn-in-2023-it-depends-on-the-metric

+ More