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Zim

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business18 days ago

Hapag-Lloyd to acquire ZIM in $4B deal, creating a strengthened global container network

Hapag-Lloyd announced a merger agreement to acquire 100% of ZIM for $35 per share, valuing the deal at over $4 billion. A carved-out ZIM unit will be sold to FIMI to form a new Israeli container line that will assume ZIM’s Golden Share and branding. The combined group would run more than 400 vessels with capacity above 3 million TEU and annual volume surpassing 18 million TEU, expanding and fortifying the network across major trades. The transaction is subject to ZIM shareholder and regulatory approvals, with closing expected by late 2026; until then, the two companies will operate mostly separately with existing collaboration limited to current vessel-sharing agreements.

via Hapag-Lloyd|
#business#container-shipping#fimi
ZIM to be sold for $4.2B to German-Israeli partners, drawing domestic opposition
business-and-innovation19 days ago

ZIM to be sold for $4.2B to German-Israeli partners, drawing domestic opposition

Israel's ZIM will be sold for about $4.2 billion to a German-Israeli partnership of Hapag-Lloyd and FIMI Opportunity Funds, with Hapag-Lloyd running international operations and FIMI Israeli assets. The deal, approved by ZIM’s board, aims to bypass the government’s golden share but faces pushback from workers, politicians and Haifa officials who warn it could threaten Israel’s economy and security.

via The Jerusalem Post|
#business-and-innovation#fimi#hapag-lloyd
"Jefferies Bullish on ZIM Integrated Shipping as Shares Soar"
business2 years ago

"Jefferies Bullish on ZIM Integrated Shipping as Shares Soar"

Israeli liner shipping company Zim has experienced a significant financial turnaround, going from massive losses to becoming a money-making machine in just two months, thanks to attacks by Houthi rebels on vessels in the Red Sea. The NYSE-listed carrier, led by chief executive Eli Glickman, has been upgraded as its financial fortunes have been reversed, marking a remarkable transformation for the company.

via TradeWinds|
#business#financial-turnaround#houthi-rebels
"Houthi Bribery Scandal Shakes Shipping Industry"
shipping-industry2 years ago

"Houthi Bribery Scandal Shakes Shipping Industry"

Shares of Israeli shipping company Zim dropped over 17% after reports of their Chinese partner COSCO withdrawing from Israel, but the market is also unsettled by rumors of a containership line allegedly bribing Houthi officials to avoid targeting their vessels in the Red Sea. The alleged deal involves ensuring safe passage for certain carriers in exchange for avoiding Israeli goods and ports, but two major carriers have denied participating in any bribes. The US military and Federal Maritime Commission are being consulted for further insights, and US Central Command has referred inquiries to the ship owners.

via gCaptain|
#cosco#houthi#operation-prosperity-guardian
ZIM Integrated's Q3 Performance Reveals $2bn Quarterly Loss
business2 years ago

ZIM Integrated's Q3 Performance Reveals $2bn Quarterly Loss

ZIM Integrated Shipping Services reported a net loss of $2.27 billion for the third quarter of 2023, compared to a net income of $1.17 billion in the same period last year. The loss was primarily driven by a non-cash impairment loss of $2.06 billion. Revenues for the quarter decreased by 61% year-over-year to $1.27 billion. ZIM revised its full-year guidance, expecting adjusted EBITDA of $900-$1,100 million and an adjusted EBIT loss of $600-$400 million for 2023. The company cited weak demand and deteriorating freight rates as the reasons for the revision. ZIM is implementing cost control measures and a fleet renewal program to improve its cost structure and drive long-term growth.

via Yahoo Finance|
#adjusted-ebitda#business#container-liner