• 2019 March 22 10:08

    ZIM net loss up to $119.9 million in 2018

    Confronted with tough business environment, ZIM continued to record improvements and to introduce new services to its customers, the company said in its release.

    In September 2018, the Company launched its strategic operational cooperation with the 2M Alliance. According to this cooperation, the Company and the parties of the 2M Alliance (Maersk and MSC) operate together several lines between Asia and the US East-Coast. In January 2019, The Company and the members of the 2M Alliance announced a second strategic cooperation agreement in two additional trades: Asia - East Mediterranean and Asia - American Pacific Northwest.

    Eli Glickman, ZIM President & CEO, said: “During 2018, we have commenced the first phase of our strategic operational cooperation with the 2M Alliance, recently expanded to two additional trades. The agreement enables ZIM to offer better product and service portfolio to our customers, and cope with the volatile freight rates and fuel prices. We were able to achieve improved cost efficiencies while significantly increasing the transported volumes. At the same time, we continue to put our customer service at the center, introducing new services and investing in innovative digital solutions"

    Financial and Operating Highlights for the Year Ended December 31, 2018

     Total revenues were $3,247.9 million compared to $2,978.3 million in 2017, a 9.1% increase
     ZIM carried 2,914 thousand TEUs, compared to 2,629 thousand TEUs in 2017, a 10.8% increase
     The average freight rate per TEU was $973, compared to $995 in 2017, a 2.2% decrease
     Adjusted EBITDA was $145.3 million, compared to $270.1 million in 2017
     EBITDA was $121.0 million, compared to $245.8 million in 2017
     Adjusted EBIT was $33.7 million, compared to adjusted EBIT of $161.7 million in 2017
     EBIT was negative $28.6 million, compared to EBIT of $135.1 million in 2017
     Adjusted net loss was $44.6 million, compared to adjusted net profit of $50.0 million in 2017
     Net loss was $119.9 million (including an impairment loss of $38.0 million with respect to vessels classified as held-for-sale), compared to net profit of $11.4 million in 2017
     Operating cash flow was $225.0 million, compared to $230.9 million in 2017

    Financial and Operating Highlights for the Three Months Ended December 31, 2018

     Total revenues were $852.6 million compared to $760.9 million in Q4 2017, a 12.1% increase
     ZIM carried 714 thousand TEUs, compared to 685 thousand TEUs in Q4 2017, a 4.2% increase
     The average freight rate per TEU was $1,045, compared to $959 in Q4 2017, a 9.0% increase
     Adjusted EBITDA was $47.8 million compared to $53.4 million in Q4 2017
     EBITDA was $42.4 million compared to $48.1 million in Q4 2017
     Adjusted EBIT was $19.6 million, compared to adjusted EBIT of $25.5 million in Q4 2017
     EBIT was negative $23.8 million, compared to EBIT of $20.3 million in Q4 2017
     Adjusted net profit was $0.8 million, compared to adjusted net loss of $1.3 million in Q4 2017
     Net loss was $46.0 million (including an impairment loss of $38.0 million with respect to vessels classified as held-for-sale), compared to net loss of $9.7 million in Q4 2017
     Operating cash flow was $60.4 million, compared to $61.7 million in Q4 2017




2019 July 19

18:10 NYK holds fleet safety promotion conferences for shipowners and ship-management companies
18:04 Incat Tasmania exports new 111 metre ferry to Spain
17:49 World's largest air-cushioned landing craft takes part in Navy Day parade rehearsal in Baltiysk
17:25 Caspian Flotilla ship crews prepare for Naval Parade
17:03 FortisBC secures first export contract for Tilbury LNG facility
16:22 Project documentation for construction of Nizhny Novgorod hydroengineering facility completed - Victor Vovk
16:03 CMA CGM announces GRR from Asia to East and South Africa
15:50 East Mining Company to invest RUB 11.5 billion in development of its coal project in Sakhalin
15:33 Moby names Damen ASD Tug 2813 Vincenzino O. in Cagliari
15:12 Cargotec posts financial report for January–June 2019
14:47 Blagoveshchensk shipyard completed state trials of hydrographic survey vessel of Project 19910
14:33 NYK recognized for implementation of advanced navigation support tool
14:12 Global Ship Lease announces new charter agreement
13:51 150 graduates of Moscow State Water Transport Academy awarded with diplomas
13:30 RF Government includes NOVATEK’s LNG terminal project into area planning scheme
13:12 Port of Long Beach releases draft Master Plan update
13:07 Epic Gas Ltd. completes acquisition of two vessels of four LPG carriers
12:24 USCG finds federal fisheries violations aboard 5 recreational fishing vessels
12:11 IMO Council condemns tanker attacks in Strait of Hormuz and Sea of Oman
11:31 Naval Group reports order intake growth in H1 to 3.9bn euro
11:14 Ice-breaking LNG carrier for Yamal LNG Project named NIKOLAY URVANTSEV
10:58 Minister of Transport of Malaysia visits World Maritime University
10:26 Saudi Arabia accedes to two important IMO treaties
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:50 MABUX: Bunker market this morning, July 19
09:33 Brent Crude futures price is up 1.91% to $63.11, Light Sweet Crude – up 1.48% to $56.12
09:16 Baltic Dry Index is up to 2,130 points

2019 July 18

18:05 Future expectations for MPS Terminal 3 in the port in Tema outlined with Government delegation
17:24 PGNiG acquires interest in another gas field in the North Sea
17:18 DNV GL supports 2020 sulphur compliance with online Ship Implementation Plan
17:05 OOCL announces new Middle East / Indian Subcontinent – North Europe Service
16:35 Consortium including DEME and Jan De Nul explores pioneering high-wave offshore solar technology
16:07 Large maritime market players join hands to create high-wave offshore solar panels
15:52 State Duma makes it easier for foreign tourists to visit Russia’s Arctic
15:35 Incat Tasmania delivers new 111-metre ferry to Spain operator Naviera Armas
15:18 Hapag-Lloyd launches South-East India – Europe Express Service // IEX to start operations in October 2019
15:01 Operation ATALANTA welcomes ESPS CANARIAS
14:26 Bunker prices are slightly down at the Far East ports of Russia (graph)
14:00 Diana Shipping announces time charter contract for m/v Selina with Ausca
13:44 PortNews Media Group's anniversary celebration photo release
13:22 Aleksey Khaidukov as President of Novoship
13:00 Global Ports Holding invites proposals for Duty Free and Travel Retail operations at Malaga, Zadar, Cagliari and Catania cruise ports
12:47 East Mining Company eyes arranging offshore transshipment of coal in Kamchatka under Tata project
12:09 Wärtsilä posts financial results for January-June 2019
11:53 Construction of LNG-powered icebreakers to be financed by NOVATEK – Vyacheslav Ruksha
11:31 RF Deputy PM Maksim Akimov set a task to begin dredging in the Gulf of Ob not later than on 1 August 2019
11:09 Port of Muuga strengthened with new ferry connection to Finland
10:48 Primorsky MRC terminal to offer fully closed transshipment of loose cargo
10:30 MAN Energy Solutions gets subsea compression FEED order from Chevron
10:09 Port of Lowestoft names new state-of-the-art pilot boat
09:56 MABUX: Bunker market this morning, July 18
09:50 APM Terminals Callao launches Peru’s first digital customer platform
09:34 Brent Crude futures price is up 0.17% to $63.77, Light Sweet Crude – up 0.02% to $56.79
09:16 Baltic Dry Index is up to 2,064 points

2019 July 17

18:13 USCG responds to boat collision, assists 4 injured
17:55 LNG vessels to protect environment and increase container turnover at the Port of Riga
17:32 YAMAL LNG obtains certification for the new ISO 45001:2018 and confirms compliance with ISO 14001:2015
17:03 Qatargas delivers 3000th LNG cargo to Japan
16:48 Maslovoz-2 tanker left floating dock of Novorossiysk Ship Repair Yard
16:21 Krasnoye Sormovo delivers the Aleksandr Zuyev, dry cargo carrier of Project RSD59, to STLC