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.
Container ship
31 Jan 2014
Container ships arrived at their destination ports across the globe on time 73.7 percent of the time in December 2013...
29 Jan 2014
Member carriers in the Transpacific Stabilization Agreement plan to increase Asia-U.S. rates by $300 per FEU, effective March 15...
23 Jan 2014
Israeli ocean carrier Zim today announced it has reached a $3 billion debt restructuring deal with a majority of its creditors, paving the way for new partnerships with rival lines, an initial public offering and orders for mega container vessels.
Zim Virginia
17 Jan 2014
Israel Corp. is set to lose control over Zim Integrated Shipping Services after creditors agreed to restructure the financially troubled Israeli ocean carrier’s debt.
Zim Haifa 2 container ship
02 Dec 2013
Zim Integrated Shipping Services returned to the black in the third quarter of 2013, as it closed on a debt restructuring deal with its creditors.