Shipping

ZIM increases annual revenues amid slight container decline

Mar, 13, 2023 Posted by Gabriel Malheiros

Week 202313

Israel-based container line ZIM Integrated Shipping Services has published its operating and financial results for the full year ending 31 December 2022.

ZIM reported a year-on-year decline of 3% in its container volumes, handling 3.38 million TEUs in 2022.

The Haifa-headquartered company noted that the average freight cost per TEU in 2022 was US$3,240, compared to US$2,786 in 2021, representing a 16% increase year-on-year.

This is the main reason that ZIM’s total revenues for the entire year 2022 were US$12.5 billion, up from US$10.7 billion in the previous year.¬†Additionally, the ocean carrier’s operating income (Earnings Before Interest and Taxes, EBIT) was US$6.1 billion.

“Full-year operating income profited from higher freight rates, which were partly mitigated by higher fuel and vessel chartering costs,” commented a ZIM’s official.

Furthermore, ZIM reported a relatively steady total net income of US$4.6 billion in 2022, while the adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of the company were US$7.5 billion.

Source: Container-news

To read the original news source, access: https://container-news.com/zim-increases-annual-revenues-amid-slight-container-decline/

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