ZIM Integrated Shipping Services reported stronger second-quarter 2026 results, as its exposure to the Transpacific trades, higher freight rates and increased container volumes helped drive revenue and profit higher, while the carrier continues a significant fleet renewal program ahead of its pending acquisition by Hapag-Lloyd.
ZIM posted second-quarter revenue of $1.78 billion, up 9% year-on-year, while net income jumped to $64 million from $24 million. Adjusted EBITDA increased 4% to $491 million, and adjusted net income reached $77 million. The company generated $386 million in free cash flow during the quarter.
The improvement was driven by both volume and pricing. ZIM carried 922,000 TEUs, 3% more than a year earlier, while its average freight rate increased 8% to $1,590/TEU. Pacific volumes were particularly strong, climbing from 354,000 TEUs to 426,000 TEUs year-on-year, offsetting weaker volumes in the Cross-Suez, Atlantic and Latin American trades.
The second-quarter rebound contrasted with a weaker first half overall. Six-month revenue fell to $3.18 billion from $3.64 billion as average freight rates declined to $1,455/TEU and volumes slipped to 1.788 million TEUs. ZIM recorded a first-half net loss of $22 million versus a $320 million profit a year earlier.
Fleet Renewal Continues
ZIM currently operates 115 containerships totaling 707,000 TEUs, plus 13 car carriers, down from 123 containerships totaling 767,000 TEUs a year earlier. Nine containership charters representing approximately 35,000 TEUs expire during the remainder of 2026, followed by another 13 ships totaling about 28,000 TEUs in 2027. ZIM nevertheless expects operated capacity to remain stable this year.
The carrier has charter agreements covering 40 ships and approximately 286,000 TEUs, predominantly newbuildings. These include four 8,000-TEU scrubber-fitted ships arriving through first-half 2027; 10 dual-fuel LNG 11,500-TEU ships scheduled for 2027-2028; two 12,000-TEU newbuilds; and 20 new vessels ranging from 3,000 to 5,000 TEUs. Four secondhand 9,000-TEU ships will also join the fleet in 2027-2028.
ZIM expects a significantly stronger second half and maintained full-year guidance for adjusted EBITDA of $2.0-$2.4 billion and adjusted EBIT of $700 million-$1.1 billion.
Meanwhile, Hapag-Lloyd's proposed acquisition of ZIM for $35 per share in cash remains subject to regulatory approvals, with closing targeted for the fourth quarter of 2026.
