Zim Integrated Shipping Services

Zim Integrated Shipping Services

Zim Integrated Shipping services is Israel’s largest shipping company. Established in 1945, Zim operates a fleet of 89 vessels with a total carrying capacity of 363,474 TEUs (20-foot-equivalent units), making it the world’s 18th largest shipping company.

The Haifa-based company is a subsidiary of Israel Corp. Its U.S. headquarters is in Norfolk, Virginia. The shipping company posted revenues of US$3.7 billion in 2013-- down 7 percent on a year on year basis. The company recorded a net loss of $535 million, up 23.5 percent from the previous year’s net loss of $433 million.

Zim was the 17th-ranked container carrier in U.S containerized import trade in 2013, with volume of 313,180 TEUs, down 5.1 percent year-over-year, giving it market share of 1.7 percent. It was No. 19  in U.S. containerized export trade in 2013, with volume of 246,790 TEUs, down 6.4 percent year-over-year and market share of 1.9 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.

14 Oct 2014
Israel Corp. will shift its stake in Zim Integrated Shipping Services, along with several other companies, to a holdings company that will be listed on stock exchanges in New York and Tel Aviv, the company announced.
17 Jul 2014
Zim Integrated Shipping Services said it finalized its debt restructuring deal after its parent Israel Corp. invested $200 million of new equity into the ocean carrier.
15 Jul 2014
Zim Integrated Shipping Services today said it has reached agreement with the Israeli government over the state’s “golden share,” paving the way for a $3.4 billion debt restructuring...
08 Jul 2014
Israel Corp., the parent of Zim Integrated Shipping Services, has backed a court ruling that modifies the scope of the state’s “golden share” in the ocean carrier.
03 Jul 2014
An Israeli court has modified key terms of the state’s veto-wielding “golden share” in Zim Integrated Shipping Services that threatened to block the carrier’s $3.4 billion restructuring.
01 Jul 2014
An Israeli court is due to rule on the state’s “golden share” in Zim after the ocean carrier failed to reach agreement with the Israeli government over the controversial issue.
Zim Virginia
30 Jun 2014
Israel Corp. shareholders approved a radical financial restructuring of Zim Integrated Shipping Services over the weekend.
28 May 2014
Zim’s first quarter loss shrank 45 percent from a year earlier as the Israeli ocean carrier continued to cut costs in the run-up to a $3 billion financial restructuring.
20 May 2014
Zim is launching a new U.S. Gulf-Brazil direct service in cooperation with Mediterranean Shipping Co. as part of a streamlined inter-Americas operation.
19 May 2014
Zim Integrated Shipping today announced it has finalized terms of a $3 billion financial restructuring that will enable the Israeli ocean carrier to raise funds to buy new ships and enter joint ventures and strategic partnerships with other container shipping lines.
15 May 2014
Zim is teaming up with Hapag-Lloyd on the U.S.-Mediterranean route to increase port coverage and reduce transit times, in the Israeli ocean carrier’s second agreement with a member of the G6 Alliance in the past week.
09 May 2014
Zim yesterday announced the imminent launch of an enhanced service structure between Asia and the West Coast of North America after it agreed to expand its cooperation with the G6 Alliance.