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23 September 2020 The on-line newspaper devoted to the world of transports 11:57 GMT+2

August 19, 2020

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Original news
ZIM also "benefits" from the effects of global pandemic

Glickman: "In the second quarter of 2020, we our best results of the last decade.

The economic and operating results recorded in the second quarter of this year by the shipping company ZIM containers have followed the trajectory similar performance already announced by other leading companies of this market. Even for the Israeli company, in fact, the significant decrease in costs has led to a strong decrease in costs economic performance in the face of a decline in fleet-carried loads and the consequent decline in revenues despite the rentals being growing.

In the second quarter of 2020, ZIM reported revenues of 795.1 million dollars, a decrease of -4.7% on same period last year. Operating costs fell by -13.2% to 623.9 million dollars, a reduction of 94.6 million compared to the April-June period of 2019 generated by cuts of 37.7 million dollars of cargo handling expenses (-10.4%), 29.5 million fuel expenses (-30.7%) And 24.8% of ship and cargo space rental expenses (-18,3%). EBITDA was US 145.0 million operating profit up 42.2%, operating profit up 55.6% to US 68.8 million US dollars And net profit at US 25.3 million, or 393.4%.

In the second quarter of this year, the container fleet ZIM carried containerized cargo for a total of 641 thousand teu (-12.3%) average revenue per container transported is 1,071 dollars/teu (up 7.9%).

"In the second quarter of 2020- president and CEO of ZIM, Eli Glickman - we've had our best results of the last decade, which we believe are the result of our overall strategy that, along with our vision and our values and capabilities our staff, produced these results, exceptional and encouraging. The decrease in the cost of rentals and fuel, as well as the levels of the noli -- he Glickman - had a positive impact on the results. However, it is important to point out that this result is been achieved as we were facing the formidable challenges global pandemic.'

PSA Genova Pra' Autorità di Sistema Portuale Mar Ligure Orientale

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