Zim has joined the fleet of major shipping lines posting impressive second-quarter profits, despite significant volume declines.
At $25.3m, the Israeli carrier’s Q2 net profit was its highest in a decade, and a whopping 394% increase on Q2 19.
Liftings were down 12.3% year on year, at 641,000 teu, however, while total revenue fell 4.7% to $834.3m.
On the other hand, Zim’s average rate per teu increased 7.9% to $1,071, underlining how carriers’ …

The post Zim joins fleet of carriers reporting proftable Q2 despite declining volumes appeared first on The Loadstar.

Source: The Loadstar