Israeli container shipping line Zim yesterday posted a net loss for 2018 of $119.9m, despite a 9.2% increase in revenue to $3.2bn, a four-year high.
Zim said depressed freight rates in the first half and high bunker costs were the primary causes, while a second-half rally in rates was not enough to keep the line out of the red.
In 2017, the company recorded a net profit of $11.4m, on revenue of …
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Source: The Loadstar