Latest news with #Glickman
Yahoo
20-05-2025
- Business
- Yahoo
Zim profit up on higher container volume, rates
Zim Integrated Shipping Services Ltd. said first-quarter net income was $296 million compared to $92 million a year ago, on total revenues of $2.01 billion, a 28% increase from $1.56 billion. The Haifa-based carrier said the improvements were driven by increases in both freight rates and carried container volume. The company (NYSE: ZIM) reported diluted earnings per share of $2.45 for the quarter ended March 31, up from 75 cents reported in the first quarter of 2024. 'As we look toward the remainder of the year, the operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations,' said Eli Glickman, president and chief executive, in a release. 'For Zim, our focus is on controlling what we can and responding to market shifts quickly with decisive actions. We continuously assess how to best allocate capacity and have taken steps to modify our network to match the changes in cargo flow from China and other Southeast Asian markets into the United States, including within the last week, which underscores the agile nature of our commercial strategy.'The company carried 944,000 twenty-foot equivalent units in the first quarter, representing a 12% increase from 846,000 TEUs y/y. The average freight rate per TEU reached $1,776, up 22% from $1,452. Glickman said Zim continues to invest in modern ships, with 40% of its fleet now powered by liquefied natural gas. Adjusted earnings before interest, taxes, depreciation and amortization was $779 million, an 82% increase from $427 million y/y. Operating income – earnings before interest and taxes – rose to $464 million, compared to $167 million. Adjusted EBIT increased to $463 million from $167 company's profit margins also expanded significantly, with net income margin rising to 15% from 6%. Adjusted EBITDA margin improved to 39% from 27%, while adjusted EBIT margin more than doubled to 23% from 11%. Free cash flow for the quarter was $787 million, compared to $303 million in the same period a year ago. Zim declared a dividend of 74 cents per share. Despite market uncertainties, the company maintained guidance for Adjusted EBITDA between $1.6 billion and $2.2 billion and adjusted EBIT between $350 million and $950 million. Find more articles by Stuart Chirls container tsunami heading to Los Angeles, says port chief US trade representative holds second hearing on Chinese ship feesLong Beach sees record TEUs on trade war effect Hapag-Lloyd expects swift China ramp-up after bookings jump 50% The post Zim profit up on higher container volume, rates appeared first on FreightWaves.
Yahoo
19-05-2025
- Business
- Yahoo
ZIM Reports Financial Results for the First Quarter of 2025
Reported Revenues of $2.01 Billion, Net Income of $296 million, Adjusted EBITDA1 of $779 Million and Adjusted EBIT1 of $463 Million2 Achieved 12% Volume Growth YOY with Carried Volume of 944 Thousand TEUs in Q1 2025 Reaffirmed Full Year 2025 Guidance of Adjusted EBITDA of $1.6 Billion to $2.2 Billion and Adjusted EBIT of $350 Million to $950 Million3 Declared Dividend of $89 million, or $0.74 per Share HAIFA, Israel, May 19, 2025 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company") announced today its consolidated results for the three months ended March 31, 2025. First Quarter 2025 Highlights Net income for the first quarter was $296 million (compared to $92 million in the first quarter of 2024), or diluted earnings per share of $2.454 (compared to $0.75 in the first quarter of 2024). Adjusted EBITDA for the first quarter was $779 million, a year-over-year increase of 82%. Operating income (EBIT) for the first quarter was $464 million, compared to $167 million in the first quarter of 2024. Adjusted EBIT for the first quarter was $463 million, compared to $167 million in the first quarter of 2024. Revenues for the first quarter were $2.01 billion, a year-over-year increase of 28%. Carried volume in the first quarter was 944 thousand TEUs, a year-over-year increase of 12%. Average freight rate per TEU in the first quarter was $1,776, a year-over-year increase of 22%. Net leverage ratio1 of 0.6x at March 31, 2025, compared to 0.8x as of December 31, 2024; net debt1 of $2.49 billion as of March 31, 2025, compared to net debt of $2.88 billion as of December 31, 2024. Eli Glickman, ZIM President & CEO, stated, "ZIM began the year with positive momentum, delivering 12% carried volume growth and strong earnings in the first quarter. Drawing on our transformed fleet and enhanced cost structure, we generated Q1 revenues of $2.01 billion and net income of $296 million. Building on our proven track record of returning capital to shareholders, we declared a dividend of $0.74 per share, or $89 million, representing approximately 30% of our quarterly net income." Mr. Glickman added, "As we look toward the remainder of the year, the operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations. For ZIM, our focus is on controlling what we can and responding to market shifts quickly with decisive actions. We continuously assess how to best allocate capacity and have taken steps to modify our network to match the changes in cargo flow from China and other Southeast Asian markets into the United States, including within the last week, which underscores the agile nature of our commercial strategy." Mr. Glickman concluded, "Despite the heightened level of uncertainty, we have reaffirmed our 2025 outlook of Adjusted EBITDA between $1.6 billion and $2.2 billion and Adjusted EBIT between $350 million and $950 million. We are confident that we have built a resilient business and will continue to benefit from the strategic investment in our fleet with larger, more modern, cost-effective capacity, approximately 40% of which is LNG-fueled. Supported by our lower cost base, we believe ZIM is well positioned to drive profitable growth over the long term." Summary of Key Financial and Operational ResultsQ1-25 Q1-24 Carried volume (TEU in thousands) .................... 944 846 Average freight rate ($/TEU)................................ 1,776 1,452 Total revenues ($ in millions)............................... 2,007 1,562 Operating income (EBIT) ($ in millions)............... 464 167 Profit before income tax ($ in millions)................. 381 96 Net income ($ in millions)..................................... 296 92 Adjusted EBITDA ($ in millions)........................... 779 427 Adjusted EBIT ($ in millions)................................ 463 167 Net income margin (%)......................................... 15 6 Adjusted EBITDA margin (%)............................... 39 27 Adjusted EBIT margin (%).................................... 23 11 Diluted earnings per share ($).............................. 2.45 0.75 Net cash generated from operatingactivities ($ in millions).......................................... 855 326 Free cash flow1 ($ in millions)............................... 787 303MAR-31-25 DEC-31-24 Net debt ($ in millions).......................................... 2,494 2,876 Financial and Operating Results for the First Quarter Ended March 31, 2025 Total revenues were $2.01 billion for the first quarter of 2025, compared to $1.56 billion for the first quarter of 2024, mainly driven by the increase in freight rates and carried volume. ZIM carried 944 thousand TEUs in the first quarter of 2025, compared to 846 thousand TEUs in the first quarter of 2024. The average freight rate per TEU was $1,776 for the first quarter of 2025, compared to $1,452 for the first quarter of 2024. Operating income (EBIT) for the first quarter of 2025 was $464 million, compared to $167 million for the first quarter of 2024. The increase was driven primarily by the above-mentioned increase in revenues. Net income for the first quarter of 2025 was $296 million, compared to $92 million for the first quarter of 2024, also mainly driven by the above-mentioned increase in revenues. Adjusted EBITDA for the first quarter of 2025 was $779 million, compared to $427 million for the first quarter of 2024. Adjusted EBIT was $463 million for the first quarter of 2025, compared to $167 million for the first quarter of 2024. Adjusted EBITDA and Adjusted EBIT margins for the first quarter of 2025 were 39% and 23%, respectively. This compares to 27% and 11% for the first quarter of 2024, respectively. Net cash generated from operating activities was $855 million for the first quarter of 2025, compared to $326 million for the first quarter of 2024. Liquidity, Cash Flows and Capital Allocation ZIM's total cash position (which includes cash and cash equivalents and investments in bank deposits and other investment instruments) increased by $230 million from $3.14 billion as of December 31, 2024 to $3.37 billion as of March 31, 2025. Capital expenditures totaled $78 million for the first quarter of 2025, compared to $24 million for the first quarter of 2024. Net debt position as of March 31, 2025, was $2.49 billion compared to a net debt position of $2.88 billion as of December 31, 2024, a decrease of $382 million. ZIM's net leverage ratio as of March 31, 2025, was 0.6x, compared to 0.8x as of December 31, 2024. First Quarter 2025 Dividend In accordance with the Company's dividend policy, the Company's Board of Directors declared a regular cash dividend of approximately $89 million, or $0.74 per ordinary share, reflecting approximately 30% of first quarter 2025 net income. The dividend will be paid on June 9, 2025, to holders of record of ZIM ordinary shares as of June 2, 2025. All future dividends are subject to the discretion of Company's Board of Directors and to the restrictions provided by Israeli law. Use of Non-IFRS Measures in the Company's 2025 Guidance A reconciliation of the Company's non-IFRS financial measures included in its full-year 2025 guidance to corresponding IFRS measures is not available on a forward-looking basis. In particular, the Company has not reconciled Adjusted EBITDA and Adjusted EBIT because the various reconciling items between such non-IFRS financial measures and the corresponding IFRS measures cannot be determined without unreasonable effort due to the uncertainty regarding, and the potential variability of, the future costs and expenses for which the Company adjusts, the effect of which may be significant, and all of which are difficult to predict and are subject to frequent change. Full-Year 2025 Guidance In 2025, the Company continues to expect to generate Adjusted EBITDA between $1.6 billion and $2.2 billion and Adjusted EBIT between $350 million and $950 million. Conference Call Details Management will host a conference call and webcast (along with a slide presentation) to review the results and provide a corporate update today at 8:00 AM ET. The call (and slide presentation) will be available via live webcast through ZIM's website, located at the following link. Following the conclusion of the call, a replay of the conference call will be available on the Company's website. About ZIM Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 100 countries serving approximately 33,000 customers in over 330 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at Forward-Looking Statements The following information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about the Company, may include projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are important factors that could cause the Company's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: our expectations regarding general market conditions as a result of the current geopolitical instability, developments and further escalation of events, including, but not limited to, the Houthi attacks against vessels in the Red Sea, the war between Israel and Hamas, Iran and Iranian-backed proxies, the political and military instability in the Middle East and the war between Russia and Ukraine, and the armed conflict between India and Pakistan, among others; our expectations regarding general market conditions as a result of global economic trends, including potential rising inflation and interest rates, imposition and/or increase or decrease in tariffs or other charges imposed on import, export or trade (including by USTR) as a result of geopolitical and other events; our expectations regarding trends related to the global container shipping industry, including with respect to fluctuations in vessel and container supply, industry consolidation, demand for containerized shipping services, bunker and alternative fuel prices and supply, charter and freights rates, container values and other factors affecting supply and demand; our plans regarding our business strategy, areas of possible expansion and expected capital spending or operating expenses; our ability to adequately respond to political, economic and military instability in Israel, the Middle East and elsewhere (particularly as a result of the Israel-Hamas war and the Israel-Hezbollah and Israel-Iran armed conflicts), and our ability to maintain business continuity as an Israeli-incorporated company in times of emergency; our ability to effectively handle cyber-security threats and recover from cyber-security incidents, including in connection with the war between Israel and Iran and Iranian-backed proxies; our anticipated ability to obtain additional financing in the future to fund expenditures; our expectation of modifications with respect to our and other shipping companies' operating fleet and lines, including the utilization of larger vessels within certain trade zones and modifications made in light of environmental regulations; the expected benefits of our cooperation agreements and strategic partnerships; formation of new alliances among global carriers, changes in and disintegration of existing alliances and collaborations, including alliances and collaborations to which we are not a party to; our anticipated insurance costs; our expectations regarding the availability of crew; our expectations regarding our environmental and regulatory conditions, including extreme weather events, changes in laws and regulations or actions taken by regulatory authorities, and the expected effect of such regulations; our expectations regarding potential liability from current or future litigation; our plans regarding hedging activities; our ability to pay dividends in accordance with our dividend policy; our expectations regarding our competition and ability to compete effectively; and other risks and uncertainties detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission (SEC), including under the caption "Risk Factors" in its 2024 Annual Report filed with the SEC on March 12, 2025. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company assumes no duty to update any of these forward-looking statements after the date hereof to conform its prior statements to actual results or revised expectations, except as otherwise required by law. The Company prepares its financial statements in accordance with IFRS Accounting Standards (IFRSs), as issued by the International Accounting Standards Board (IASB). Use of Non-IFRS Financial Measures The Company presents non-IFRS measures as additional performance measures as the Company believes that it enables the comparison of operating performance between periods on a consistent basis. These measures should not be considered in isolation, or as a substitute for operating income, any other performance measures, or cash flow data, which were prepared in accordance with IFRS as measures of profitability or liquidity. Please note that Adjusted EBITDA does not take into account debt service requirements or other commitments, including capital expenditures, and therefore, does not necessarily indicate the amounts that may be available for the Company's use. In addition, the non-IFRS financial measures presented by the Company may not be comparable to similarly titled measures reported by other companies due to differences in the way these measures are calculated. Adjusted EBITDA is a non-IFRS financial measure which we define as net income (loss) adjusted to exclude financial expenses (income), net, income taxes, depreciation and amortization in order to reach EBITDA, and further adjusted, as applicable, to exclude impairment of assets, non-cash charter hire expenses, capital gains (losses) beyond the ordinary course of business and expenses related to legal contingencies. Adjusted EBIT is a non-IFRS financial measure which we define as net income (loss) adjusted to exclude financial expenses (income), net and income taxes, in order to reach our results from operating activities, or EBIT, and further adjusted, as applicable, to exclude impairment of assets, non-cash charter hire expenses, capital gains (losses) beyond the ordinary course of business and expenses related to legal contingencies. Free cash flow is a non-IFRS financial measure which we define as net cash generated from operating activities minus capital expenditures, net. Net debt is a non-IFRS financial measure which we define as face value of short- and long-term debt, minus cash and cash equivalents, bank deposits and other investment instruments. We refer to this measure as net cash when cash and cash equivalents, bank deposits and other investment instruments exceed the face value of short- and long-term debt. Net leverage ratio is a non-IFRS financial measure which we define as net debt (see above) divided by Adjusted EBITDA for the last twelve-month period. When our net debt is less than zero, we report the net leverage ratio as zero. See the reconciliation of net income to Adjusted EBIT and Adjusted EBITDA and net cash generated from operating activities to free cash flow in the tables provided below. 1. See disclosure regarding "Use of Non-IFRS Financial Measures."2. Operating income (EBIT) for Q1 2025 was $464 million. A reconciliation to Adjusted EBIT is provided in the tables below.3. The Company does not provide IFRS guidance because it cannot be determined without unreasonable effort. See disclosure regarding "Use of Non-IFRS Measures in the Company's 2025 Guidance."4. The number of shares used to calculate the diluted earnings per share is 120,508,654. The number of outstanding shares as of March 31, 2025 was 120,457,510. Investor Relations:Elana HolzmanZIM Integrated Shipping Services Ltd.+ Leon BermanThe IGB Group212-477-8438lberman@ Media:Avner ShatsZIM Integrated Shipping Services Ltd.+972-4-865-2520media@ CONSOLIDATED BALANCE SHEET (Unaudited) (U.S. dollars in millions)March 31December 31202520242024 AssetsVessels 5,727.54,488.75,733.0 Containers and handling equipment 1,065.6822.91,013.3 Other tangible assets 105.287.797.7 Intangible assets 110.3104.8109.8 Investments in associates 22.030.325.4 Other investments 1,109.0814.01,080.9 Other receivables 55.582.761.0 Deferred tax assets 7.62.57.5 Total non-current assets 8,202.76,433.68,128.6 Inventories 217.5197.3212.2 Trade and other receivables 760.0868.0933.6 Other investments 765.4744.8800.4 Cash and cash equivalents 1,546.1687.91,314.7 Total current assets 3,289.02,498.03,260.9 Total assets 11,491.78,931.611,389.5 EquityShare capital and reserves 2,039.82,013.92,032.7 Retained earnings 1,918.1527.42,004.2 Equity attributable to owners of the Company 3,957.92,541.34,036.9 Non-controlling interests 6.04.15.8 Total equity 3,963.92,545.44,042.7 LiabilitiesLease liabilities 4,539.73,716.84,600.6 Loans and other liabilities 55.566.659.9 Employee benefits 55.245.447.5 Deferred tax liabilities 83.65.827.6 Total non-current liabilities 4,734.03,834.64,735.6 Trade and other payables 1,137.8612.2736.2 Provisions 85.463.696.6 Contract liabilities 287.7292.9408.9 Lease liabilities 1,235.11,534.71,321.7 Loans and other liabilities 47.848.247.8 Total current liabilities 2,793.82,551.62,611.2 Total liabilities 7,527.86,386.27,346.8 Total equity and liabilities 11,491.78,931.611,389.5 CONSOLIDATED INCOME STATEMENTS (Unaudited) (U.S. dollars in millions, except per share data)Three months endedMarch 31Year endedDecember 31202520242024 Income from voyages and related services 2,006.61,562.08,427.4 Cost of voyages and related services:Operating expenses and cost of services (1,162.6)(1,080.8)(4,513.2) Depreciation (310.8)(257.7)(1,130.2) Gross profit 533.2223.52,784.0 Other operating income 12.56.046.6 Other operating expenses (0.8) General and administrative expenses (79.0)(60.8)(296.1) Share in loss of associates (2.4)(2.1)(6.4) Results from operating activities 464.3166.62,527.3 Finance income 40.038.7149.2 Finance expenses (123.8)(109.0)(471.5) Net finance expenses (83.8)(70.3)(322.3) Profit before income taxes 380.596.32,205.0 Income taxes (84.4)(4.2)(51.2) Profit for the period 296.192.12,153.8 Attributable to:Owners of the Company 295.390.32,147.7 Non-controlling interests 0.81.86.1 Profit for the period 296.192.12,153.8 Earnings per share (US$)Basic earnings per 1 ordinary share 2.450.7517.84 Diluted earnings per 1 ordinary share 2.450.7517.82 Weighted average number of shares for earnings per share calculation:Basic 120,439,282120,307,283120,357,315 Diluted 120,508,654120,450,586120,492,425 CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (U.S. dollars in millions)Three months ended March 31Year ended December 31202520242024 Cash flows from operating activitiesProfit for the period 296.192.12,153.8 Adjustments for:Depreciation and amortization 315.9260.61,142.5 Net finance expenses 83.870.3342.4 Share of losses and change in fair value of investees 2.42.16.4 Capital gain, net (11.9)(6.0)(43.9) Income taxes 84.44.251.2 Other non-cash items 0.41.510.9771.1424.83,663.3 Change in inventories (5.3)(18.0)(32.9) Change in trade and other receivables 181.8(236.2)(352.9) Change in trade and other payables, including contract liabilities (126.2)133.3357.8 Change in provisions and employee benefits 1.43.235.451.7(117.7)7.4 Dividends received from associates 1.01.23.1 Interest received 30.422.097.3 Income taxes received (paid) 0.5(4.2)(18.4) Net cash generated from operating activities 854.7326.13,752.7 Cash flows from investing activitiesProceeds from sale of tangible assets, intangible assets, and interest in investees 9.91.518.7 Acquisition and capitalized expenditures of tangible assets, intangible assets and interest in investees (78.0)(24.4)(214.1) Disposal (acquisition) of investment instruments, net (13.2)199.085.8 Loans granted to investees (1.9)(1.2)(6.1) Change in other receivables 7.47.731.6 Change in other investments (mainly deposits), net 34.11.1(139.1) Net cash generated from (used in) investing activities (41.7)183.7(223.2) Cash flows from financing activitiesRepayment of lease liabilities and borrowings (460.4)(636.7)(2,082.6) Dividend paid to non-controlling interests (0.2)(0.4)(4.0) Dividend paid to owners of the Company (579.2) Interest paid (121.7)(103.7)(465.6) Net cash used in financing activities (582.3)(740.8)(3,131.4) Net change in cash and cash equivalents 230.7(231.0)398.1 Cash and cash equivalents at beginning of the period 1,314.7921.5921.5 Effect of exchange rate fluctuation on cash held 0.7(2.6)(4.9) Cash and cash equivalents at the end of the period 1,546.1687.91,314.7 RECONCILIATION OF NET INCOME TO ADJUSTED EBIT* (U.S. dollars in millions)Three months endedYear ended March 31December 31202520242024 Net income (loss) 296922,154 Financial expenses, net 8470322 Income taxes 84451 Operating income (EBIT) 4641672,527 Capital loss (gain), beyond the ordinary course of business (2)(2) Expenses related to legal contingencies 24 Adjusted EBIT 4631672,549 Adjusted EBIT margin 23 %11 %30 % * The table above may contain slight summation differences due to rounding. RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA* (U.S. dollars in millions)Three months endedYear ended March 31March 31202520242024 Net income (loss) 296922,154 Financial expenses, net 8470322 Income taxes 84451 Depreciation and amortization 3162611,143 EBITDA 7804273,670 Capital loss (gain), beyond the ordinary course of business (2)(2) Expenses related to legal contingencies 24 Adjusted EBITDA 7794273,692 Net income (loss) margin 15 %6 %26 % Adjusted EBITDA margin 39 %27 %44 % * The table above may contain slight summation differences due to rounding. RECONCILIATION OF NET CASH GENERATED FROM OPERATING ACTIVITIES TO FREE CASH FLOW* (U.S. dollars in millions)Three months endedYear ended March 31December 31202520242024 Net cash generated from operating activities 8553263,753 Capital expenditures, net (68)(23)(196) Free cash flow 7873033,557 * The table above may contain slight summation differences due to rounding. 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Yahoo
19-05-2025
- Business
- Yahoo
This International Cargo Shipping Company Sees Macro Uncertainty But Is Making More Money Per Cargo
Israel-based international cargo shipping company ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares are trading higher on Monday after the company reported a first-quarter sales increase of 28% year over year (Y/Y) to $2.01 billion, beating the consensus of $1.85 billion. Revenue was driven by the increase in freight rates as well as carried volume. Carried volume in the quarter was 944 thousand TEUs, an increase from 846 thousand TEUs a year ago quarter. The cargo shipping company's average freight rate per TEU stood at $1,776 (+22% Y/Y) in the quarter. Adjusted EBITDA escalated 82% Y/Y to $779 million, with margins of 39% vs. 27% in the prior year quarter. The company generated an EPS of $2.45, vs 75 cents last year, beating the consensus of $ cash flow for the year was $855 million, compared to $326 million a year ago. Capital expenditures were $78 million during the quarter versus $24 million a year ago. ZIM's total cash position increased by $230 million from $3.14 billion as of December 31, 2024, to $3.37 billion as of March 31, 2025. ZIM's net leverage ratio was 0.6x as of March-end, compared to 0.8x as of December 31, 2024. Eli Glickman, ZIM President & CEO, said, 'As we look toward the remainder of the year, the operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations.' 'We continuously assess how to best allocate capacity and have taken steps to modify our network to match the changes in cargo flow from China and other Southeast Asian markets into the United States, including within the last week, which underscores the agile nature of our commercial strategy.' Dividend: The Board of Directors declared a regular cash dividend of $89 million ($0.74 per share), payable on June 9, 2025, to shareholders of record as of June 2. Glickman added, 'We are confident that we have built a resilient business and will continue to benefit from the strategic investment in our fleet with larger, more modern, cost-effective capacity, approximately 40% of which is LNG-fueled. Supported by our lower cost base, we believe ZIM is well positioned to drive profitable growth over the long term.' 2025 Outlook: ZIM reaffirmed an adjusted EBITDA outlook of $1.6 billion to $2.2 billion and an adjusted EBIT of $350 million to $950 million. 'We enter 2025 with a more resilient business and modern cost- and fuel-efficient capacity, 40% of which is LNG-fueled. While acknowledging that our industry is highly volatile, exacerbated by current uncertainty related to geopolitics, international political dynamics, and economic, fiscal and monetary policies, we are confident in our agile approach and competitive position in the industry,' added Glickman. Investors can gain exposure to the stock via ETF Series Solutions U.S. Global Sea to Sky Cargo ETF (NYSE:SEA) and SonicShares Global Shipping ETF (NYSE:BOAT). Price Action: ZIM shares are trading higher by 11.8% to $20.49 at last check Monday. Read Next:Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article This International Cargo Shipping Company Sees Macro Uncertainty But Is Making More Money Per Cargo originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Evening Standard
24-04-2025
- Entertainment
- Evening Standard
Harvey Weinstein's empire iconic Miramax rises from the ashes as he faces sexual assault justice again
There's also a sequel to The Faculty in the works, with Robert Rodriguez returning to helm the project. In many cases, Glickman has had to smooth over decades-old tensions left by the Weinstein brothers (he ran the company with brother Bob) combative reign.
Yahoo
07-04-2025
- Business
- Yahoo
ZIM Announces New Long-Term Chartering Agreements for Ten 11,500 TEU LNG Dual-Fueled Vessels
Continued Strategic Investment in Core LNG Capacity Enhances ZIM's Commercial Agility and Supports Long-Term Growth Strategy Vessels are Expected to be Delivered in 2027-2028 HAIFA, Israel, April 7, 2025 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced today new agreements for the long-term charter of ten 11,500 TEU liquefied natural gas (LNG) dual-fuel container vessels, with total charter hire consideration of approximately $2.3 billion to serve across ZIM's various global trades. Seven of the vessels will be chartered to ZIM by Containers Ventures Holdings Inc., an affiliate of the TMS Group, and three will be chartered to ZIM by a shipping company that is affiliated with Kenon Holdings, Ltd., which was ZIM's largest shareholder until the end of 2024. The vessels will be constructed at Zhoushan Changhong Shipyard in China, with delivery expected between 2027 and 2028. Eli Glickman, ZIM President & CEO, stated: "After having received all 46 newbuilds we contracted in 2021 and 2022, which significantly improved the efficiency of our operated capacity, we are pleased to further advance our fleet strategy by securing long-term charters for these 11,500 TEU newbuild LNG dual-fuel containerships. These agreements ensure access to an important vessel segment and further strengthen our core LNG fleet, which is a critical commercial differentiator. Importantly, this versatile capacity is ideally suited for ZIM's various global trades, enhancing our commercial agility and growth potential." Mr. Glickman added: "Expanding our LNG fleet supports ZIM's decarbonization objectives and solidifies our position as an industry leader in carbon intensity reduction. Operating LNG capacity has proved commercially advantageous for ZIM and we anticipate increased demand for environmentally friendly shipping options, making access to LNG capacity even more beneficial in the future." Mr. Glickman concluded, "The addition of these ten LNG dual-fuel vessels will help keep our modernized fleet competitive and support profitable growth over the long term, benefiting our shareholders." About ZIM Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 100 countries serving approximately 33,000 customers in over 330 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at Forward-Looking Statements The following information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about the Company, may include projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are important factors that could cause the Company's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: our expectations regarding general market conditions as a result of the current geopolitical instability, developments and further escalation of events, including, but not limited to, the Houthi attacks against vessels in the Red Sea, the war between Israel and Hamas, Iran and Iranian-backed proxies, the political and military instability in the Middle East and the war between Russia and Ukraine; our expectations regarding general market conditions as a result of global economic trends, including potential rising inflation and interest rates as a result of geopolitical and other events; our expectations regarding trends related to the global container shipping industry, including with respect to fluctuations in vessel and container supply, industry consolidation, demand for containerized shipping services, bunker and alternative fuel prices and supply, charter and freights rates, container values and other factors affecting supply and demand; our plans regarding our business strategy, areas of possible expansion and expected capital spending or operating expenses; our ability to adequately respond to political, economic and military instability in Israel and the Middle East (particularly as a result of the Israel-Hamas war and the Israel-Hezbollah and Israel-Iran armed conflicts), and our ability to maintain business continuity as an Israeli-incorporated company in times of emergency; our ability to effectively handle cyber-security threats and recover from cyber-security incidents, including in connection with the war between Israel and Iran and Iranian-backed proxies; our anticipated ability to obtain additional financing in the future to fund expenditures; our expectation of modifications with respect to our and other shipping companies' operating fleet and lines, including the utilization of larger vessels within certain trade zones and modifications made in light of environmental regulations; the expected benefits of our cooperation agreements and strategic partnerships; formation of new alliances among global carriers, changes in and disintegration of existing alliances and collaborations, including alliances and collaborations to which we are not a party to; our anticipated insurance costs; our expectations regarding the availability of crew; our expectations regarding our environmental and regulatory conditions, including extreme weather events (such as the drought conditions in the Panama Canal), changes in laws and regulations or actions taken by regulatory authorities, and the expected effect of such regulations; our expectations regarding potential liability from current or future litigation; our plans regarding hedging activities; our ability to pay dividends in accordance with our dividend policy; our expectations regarding our competition and ability to compete effectively. and other risks and uncertainties detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission (SEC), including under the caption "Risk Factors" in its 2024 Annual Report filed with the SEC on March 12, 2025. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company assumes no duty to update any of these forward-looking statements after the date hereof to conform its prior statements to actual results or revised expectations, except as otherwise required by law. ZIM Contacts Media:Avner ShatsZIM Integrated Shipping Services Ltd.+ Relations:Elana HolzmanZIM Integrated Shipping Services Ltd.+ BermanThe IGB Group212-477-8438lberman@ Logo: View original content: SOURCE ZIM Integrated Shipping Services Ltd.
