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.

26 Nov 2014
An Israel Corp. shareholder vote on the spinoff of Zim Integrated Shipping Services and several other businesses into a new company, Kenon Holdings Ltd., has been scheduled for a Dec. 31 vote.
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.
07 Apr 2014
Hapag-Lloyd was first carrier to announce the westbound May rate increases even as April 1 GRIs struggle to lift a market weighed down by overcapacity and weak demand.