After being the first primary shipping company of the container sector to record, in the second quarter of This year, a turnaround in financial performance Driven by the recent deterioration of the market
( of
17 August 2022), in the following quarter the economic results of the Israeli ZIM have accused a further weakening generated by the sharp attenuation of freight value growth seafarers, down from three percentage figures in the period April-December of 2021 at a modest +3.9% in the third quarter of 2022, and the reduction of -4.8% of cargo volumes containerized transported by the fleet.
In the period July-September of this year the company Israeli totaled revenues of $3.23 billion, with an increase of +2.9% on the same period of 2021, of which 2.82 billions produced by maritime transport activity containerized, with a decrease of -1,1% representing the First negative percentage value after eight quarters consecutive growth. This slight decrease was determined solely by the worsening of economic results and operational products of the transpacific services operated by ZIM.
In the third quarter of this year, in fact, if the ships of the Israeli company transported volumes of cargo in container pairs altogether to 842 thousand teu (- 4.8%), on the sun Transpacific routes the volumes have been pairs to 294 thousand teu, with a decrease of -18.8% of volumes accompanied by a decrease of -13.5% of revenues generated by this market amounted to 1.42 billion Dollars. Volumes also decreased containerized transported on transatlantic routes, which are piled to 109 thousand teu (- 24.3%), but the revenues generated by this market have marked an increase of +18.7% rising to 304.6 million dollars. On the Asia-Europe routes, ZIM ships have transported 113 thousand teu (+29.9%) and this activity has product revenues pairs to 379,2 million dollars (+4.5%). On the sun Intra-Asian routes the company's fleet transported 265 thousand teu (+9.1%) and the related revenues have been pairs to 500,9 million dollars (+6.8%). Services with Latin America have transported 61 thousand teu (+27.1%) with corresponding revenues pairs to 218.3 million (+76.0%).
Overall, the average freight per container transported in the third quarter of 2022 from the fleet was 3,353 dollars/teu (+3.9%).
If in the period July-September of this year the revenues are increased globally only by +2.9%, cost growth remained in double digit percentage figures having been totaled expenses for 1,25 billion dollars (+24.0%). After 14 consecutive quarters of increase, EBITDA has accused a reduction having been pairs to 1,93 billion (- 7.0%) and Operating profit also fell by €1.54 billion (- 16.9%) and profit clearly of 1,17 billion dollars (- 20.3%).
In the first nine months of 2022, ZIM's revenues were equal to to 10,37 billion dollars, with an increase of +42.8% on the same last year's period. Operating expenses amounted to 3.63 billion (+26.2%). EBITDA was 6.57 billion (+55.1%), operating profit of 5,55 billion (+50.0%) and the profit clearly of 4,21 billion dollars (+43.2%). In the period January-September this year the fleet carried a total of 2,56 million teu (- 2.5%).