The Israeli shipping company ZIM closed the third quarter of this year with a record net loss of -2.27 billion as a result of the inscription in the balance sheet of a non-cash impairment loss of 2.06 billion of the containerized shipping activities of the Company resulting in a test impairment that resulted in the registration of a loss of 1.60 billion in respect to fleet container ships, of a loss of value of 391.8 million of the container fleet and other equipment, of a loss of value of 63.8 million related to other assets and a reduction in value of sightings of 9.1 million.

In addition, the widespread deterioration in financial performance caused by the descending stage of the containerized shipping market in the second half of last year that followed the historic peak coincident with the planetary diffusion of the Covid-19 pandemic. In the third quarter of 2023, the revenues of the ZIM amounted to 1.27 billion, a decline of -60.6% percent in the face of a less sharp decrease of -19.3% percent in operating costs of 1.01 billion. The decline in turnover was consequent to the -66.0% reduction in the average value of the maritime nils which was found to be 1,139 dollari/teu. The gross operating margin was 211 million (-89.1%). Operating result and net economic result, weighed down by the outcome of the impairment test, were both negative and equal to -2.28 billion and -2.27 billion respectively compared with positive sign results for 1.54 billion, and 1.17 billion in the third quarter of 2022.

In the third quarter of this year the fleet of the Israeli company transported volumes of cargo in containers equal to 867mila teu (+ 3.0%), of which 339mila teu transported on the transpacific routes (+ 15.3%), 25mila teu from intra-Asian services (-5.7%), 100mila teu on trans-Atlantic routes (-8.3%), 96mila teu on those Asia-Europe (-15.0%) and 82mila teu on routes with Latin America (+ 34.4%).

Commenting on the results of the third quarter of 2023, the president and administrator of the ZIM, Eli Glickman, explained that the company is currently in a transition period that-he specified-" we anticipate will extend in 2024, during the what we should gradually see the benefits of the incisive actions we have taken to improve the commercial and operational resilience of the ZIM. First of all, we have undertaken a fleet renewal programme that includes 46 new container ships, of which 28 are "green" LNG vessels and which, together with the repackaging of older, more expensive ships and less efficient, we anticipate it will improve our cost structure and tow profitable long-term growth. Our cost per teu is diminishing and we expect to further reduce our cost base as new construction vessels we have chartered, including a total of 28 LNG dual-fuel container carriers, will be joining our fleet in the period 2023-2024. "