ZIM reports 769,000 TEUs in the first quarter of 2023

HAIFA : ZIM Integrated Shipping Services, a worldwide container liner shipping firm, has released its consolidated results for the threemonthsending31March2023.

Carried volume in the first quarter was 769,000TEUs,a10%dropyearonyear,whilethe average freight cost per TEU was US$1,390, a64%declineyearonyear.

Revenues for the first quarter were US$1.374billion,a63%declineyearoveryear.

Furthermore, the first-quarter net loss was US$58million.Inaddition,adjustedEBITDAfor the first quarter was US$373 million, an 85% decline year on year, and operational loss (EBIT) for the first quarterwasUS$14million.

“Following a record year of Adjusted EBITDA and EBIT generation, ZIM’s first quarter results reflected the significant decline in freight rates and weak demand,particularlyintheTranspacifictrade,thatbegan lastyear,”stated EliGlickman,ZIMPresident&CEO.

Glickman further added, “As such, for 2023, we have re-affirmed the guidance we shared earlier in the year of Adjusted EBITDA of between US$1.8 billion and US$2.2 billion and Adjusted EBIT of between US$100 million and US$500 million.”