When it comes to reports of shipping line results, “best on record” is the recurring theme.
In the last couple of weeks it’s been Maersk and Hapag-Lloyd, and now ZIM Integrated Shipping has reported its highest-ever quarterly net income of $1.46 billion and adjusted Ebitda of $2.08bn.
Net income for Q3 was $1.46 billion compared to $144 million in the third quarter of 2020, a year-over-year (y-o-y) increase of 913% and 794%, respectively.
Adjusted Ebitda for the period under review was $2.08bn, compared to $262m in Q3 2020, a y-o-y increase of 693%
Operating income (Ebit) was $1.86bn, compared to $189 million last year, an increase of 884%.
Revenues amounted to $3.14bn, compared to $1.01bn, a y-o-y increase of 210%
ZIM carried 884 thousand TEUs, an increase of 16%, while the average freight rate per TEU in Q3 was $3 226, a y-o-y increase of 174%
"Reflecting ZIM's strong outlook and extremely positive container liner market fundamentals, we have once again raised our full-year 2021 guidance,” said Eli Glickman, ZIM president & CEO.
“We now expect to generate in 2021 adjusted Ebitda of $6.2bn to $6.4bn and adjusted Ebit between $5.4bn and $5.6bn. Based on the midpoint of today’s guidance versus the guidance provided in August, our new focus represents a 26% increase in our Ebitda guidance, and a 31% increase in our Ebit guidance,” he added.
