February 23, 2017 7:49 AM ET

Marine

Company Overview of ZIM Integrated Shipping Services Ltd.

Company Overview

ZIM Integrated Shipping Services Limited provides container shipping and related services worldwide. The company operates dry van, high cube, open top, reefer, reefer high cube, and flat rack containers, which transport out of gauge, dangerous, and refrigerated cargo, as well as perishable goods. It operates 80 vessels, including 13 owned vessels with a capacity of approximately 547,000 TEUs. The company was founded in 1945 and is headquartered in Haifa, Israel. ZIM Integrated Shipping Services Limited is a subsidiary of Israel Corporation Ltd.

9 Andrei Sakharov Street

PO B 1723

Haifa,  3101601

Israel

Founded in 1945

Phone:

972 4 865 2111

Fax:

972 4 865 2956

Key Executives for ZIM Integrated Shipping Services Ltd.

Chief Executive Officer and President
Age: 64
Chief Financial Officer
Chief Operations Officer
Chief Information Officer
Age: 53
Compensation as of Fiscal Year 2016.

ZIM Integrated Shipping Services Ltd. Key Developments

Zim Integrated Shipping Announces Upgraded Lines Structure

Zim Integrated Shipping announced the new, enhanced structure provides first-class services in the select trades. The changes will commence in April 2017, offering customers an array of newly designed services catering to market needs, and providing efficient and viable solutions to customers’ evolving needs. The company is introducing a new service between Asia and the Pacific North West, a fast link with efficient gateway to numerous inland destinations in the USA and Canada. This service will replace the current North Pacific services as of April 2017. ZIM’s All-Water service through the Panama Canal, the well-known ZCP service, between Asia and the US East Coast will be upgraded and will offer inland destination solutions to major locations through main ports in the US East Cost.

ZIM Announces Amendment to its Indenture

ZIM Integrated Shipping Services Ltd. has on November 30, 2016 amended the terms of its indenture entered into between the Company and Hermetic Trust (1975) Ltd. on July 16, 2014.  The amendment allows ZIM to give security over its receivables and related assets to secure the obligations arising under the relief arrangements ZIM entered into with its creditors to the company's financial statements for the second quarter of 2016.

Zim Integrated Shipping Services Ltd. Announces Earnings Results for the Third Quarter and Nine Months of 2016

Zim Integrated Shipping Services Ltd. announced earnings results for the third quarter and nine months of 2016. The company's revenue plummeted 14% to $644 million in the third quarter, and its operating loss totaled $7.2 million, compared with a $34.4 million operating profit in the third quarter last year. The company posted a $38.7 million net loss in the quarter, compared with an $11 million net profit in the third quarter of 2015. The company's revenue in the first nine months of 2016 slid 17.4% to $1.9 billion, and its operating loss in that period was $78 million, compared with a $116 million operating profit in the corresponding period last year. The company posted a $171 million net loss, compared with a $32 million net profit in the corresponding period in 2016.

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Recent Private Companies Transactions

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