News / Zim rides the rising tide of volumes and rates: Q1 revenue doubles and profits soar

Israeli container shipping carrier Zim, recently listed on the New York Stock Exchange, rewarded investors yesterday, reporting first-quarter results that were among some of the best in the sector.

The carrier saw Q1 revenue more than double year on year, to $1.744bn, on the back of soaring freight rates, and its revenue per teu rose from $1,091 in the Q1 20 to $1,925 this year.

And it saw 28% year-on-year growth in volumes – so far the highest recorded by any carrier ...