ZIM: Higher Revenues, But a Loss in 2018
The biggest cargo shipping company in Israel, Zim Integrated Shipping Services Ltd (ZIM) reported a revenue of nearly $3.25 billion in 2018, the highest in the last 4 years, reflecting an increase of 9.1% compared to $2.98 billion in 2017.However, the global container liner had a net loss in 2018 of $119.9 million, including an impairment loss of $38.0 million with respect to vessels classified as held for sale, compared to net profit of $11.4 million in 2017.Adjusted earnings before interest…
INSIGHTS: Kristen DeMarco, JAXPORT Chief Commercial Officer
Kristen DeMarco is JAXPORT’s Chief Commercial Officer. She is responsible for leading JAXPORT’s international cargo sales and marketing initiatives as well as tracking trends and issues related to maximizing the port’s business potential. DeMarco has nearly two decades of business development experience in the logistics industry, with a track record of successfully negotiating multi-million dollar deals and building relationships with decision-makers from some of the world’s largest companies.
ZIM Names Destriau CFO
ZIM Integrated Shipping Services Ltd. announced that Xavier Destriau will take over as the company’s new CFO, effective June 15, 2018. He will replace Acting CFO, Yohai Benita, who has completed his position at ZIM.Destriau has worked at CMA-CGM for 10 years and has served as Vice President - Head of Group Financing from 2014 to 2016. Destriau will be joining the company after two years as Strategic Advisor to Founder and Interim CFO of LTF Partners, an exclusive advisory firm with special expertise in emerging and frontier markets.
Zim Sinks to Red
Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year. ZIM swung to a $56 million net loss in the first quarter from a $12 million profit in the previous year and revenue was down by a fifth as slumping freight rates negated a market-beating increase in container volume. The adjusted EBIT margin was negative 2.6% for the three months ended March 31, 2016. Israeli container shipping company carried 577 thousand TEUs in Q1…
ZIM to Enhance its Asia to US East Coast and Gulf Services
ZIM Integrated Shipping Services Ltd (ZIM) has announcd an enhanced Asia to US East Coast and Gulf service offering, with seven different weekly services, extensive direct port-to-port coverage and best-in-market Transit time from key ports in Asia to US East Coast & Gulf. The full scale services offered by zim in this trade: ZIM Seven Star Express (Z7S), inaugurated in May 2015, a premium service from South China, Vietnam and India Sub continent to US East Coast, will be upgraded with a direct Port Kelang call, offering 24 days transit time to New York.
Zim plans Wall Street IPO
Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported. Zim Integrated Shipping Services Ltd has hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead a New York IPO, according to two people with knowledge of the matter, says the report. The IPO is planned for the first half of 2016. The shipping company, controlled by billionaire Idan Ofer’s Kenon Holdings Ltd., is planning to list shares by the first half of next year…
ZIM's BoD Changes
ZIM Integrated Shipping Services Ltd. The Board of Directors of the company appointed Mr. Aharon Fogel as Excutive Chairman of the Board of Directors effective as of October 6, 2014. As a result of the appointment of Mr. Aharon Fogel, as detailed above, and in accordance with Articles 88 of the company's Articles of Association, the director, Mr. Nir Epstein, will be replaced with Mr. Flemming R. Jacobs as a member of the company's Board of Directors effective as of October 6, 2014. The term of office of Mr.