Independent journal on economy and transport policy
14:28 GMT+1
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A sharp drop in costs allows the ZIM shipping company to close the last quarter of 2019 in surplus
Decline in revenues, containerized volumes transported and rentals
March 20, 2020
Throughout 2019, the company's fleet has carried containerized cargoes totalling 2.82 million teu, with a decrease of -3.2% on the previous year. The average rental for container was equal to 1,009 dollars/teu 3.7%. ZIM's revenues last year amounted to 3.30 billions of dollars (up 1.6%). Costs fell by -6.3% to 2.81 billions thanks to -27.9% reductions in purchase expenses of the bunker that fell by 149.7 million dollars, by -26.8% port expenses fell by 73.4 million and -6.6% in port expenses agency fees fell by 10.6 million, decreases partially offset by the 3.0% increase in costs for handling loads that have increased by 42.0 million dollars and 2.8% of the expenses for the purchase of slots and for the rental of ships and containers climbed by 14.7 million. EBITDA totaled USD 399.7 million, or 216.5% and the profit operating income of 153.0 million dollars compared to a result negative operating order of -28.6 million dollars in 2018. ZIM closed 2019 with a net loss of -13.0 million dollars compared to a net loss of -119.9 million dollars in the previous year.
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Throughout 2019, the company's fleet has carried containerized cargoes totalling 2.82 million teu, with a decrease of -3.2% on the previous year. The average rental for container was equal to 1,009 dollars/teu 3.7%. ZIM's revenues last year amounted to 3.30 billions of dollars (up 1.6%). Costs fell by -6.3% to 2.81 billions thanks to -27.9% reductions in purchase expenses of the bunker that fell by 149.7 million dollars, by -26.8% port expenses fell by 73.4 million and -6.6% in port expenses agency fees fell by 10.6 million, decreases partially offset by the 3.0% increase in costs for handling loads that have increased by 42.0 million dollars and 2.8% of the expenses for the purchase of slots and for the rental of ships and containers climbed by 14.7 million. EBITDA totaled USD 399.7 million, or 216.5% and the profit operating income of 153.0 million dollars compared to a result negative operating order of -28.6 million dollars in 2018. ZIM closed 2019 with a net loss of -13.0 million dollars compared to a net loss of -119.9 million dollars in the previous year.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
