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ZIM sees spike in both revenues and container volumes

The Israeli container carrier ZIM has announced astonishing financial and operational figures during the second quarter and the first half of the year.

ZIM has generated its highest ever quarterly net income of US$888 million and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$1.34 billion in the second quarter of the year.

Meanwhile, the company’s total revenues were US$4.13 billion for the first half of 2021, compared to US$1.62 billion for the first half of 2020, primarily driven by an increase in revenues from containerised cargo, reflecting increases in freight rates as well as in carried volume.

The Haifa-based container line has carried more than 1.7 million TEU during the first six months of 2021, which represents a year on year 44% increase, with an average freight rate per TEU of US$2,145, almost double the rate per TEU for the first half of the previous year.

Additionally, ZIM has reported that its operating income (EBIT) for the first half of 2021 was US$1.84 billion, while its net income US$1.48 billion, compared to $13 million for the first half of 2020.

“The outstanding performance and all-time record results”, according to the company’s CEO, have boosted ZIM to create significant shareholder value.

“Looking ahead, based on our strong outlook and forward visibility, we are well positioned to return substantial capital to shareholders, with our expected 2022 dividend payout of 30%-50% of 2021 net income, on top of the US$238 million, or US$2 per share, special dividend payable in September 2021,” commented Glickman.

ZIM’s leader went on to conclude, “Our outlook for the remainder of 2021 and into 2022 is very positive and we are excited about our strategy to further enhance our position as an innovative digital leader of seaborne transportation and logistics services.”





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