News / Zim will focus on niche markets as it prepares for the ‘new normal’

© Modfos |

Israeli ocean carrier Zim said yesterday it expected freight rates to keep falling and was preparing for the ‘new normal’ by focusing on profitable niche markets for its container services and expanding its car-carrier business.

Zim reported third-quarter revenue of $3.1bn, down 3% on the same period of last year, from 4.8% less volume, at 842,000 teu, for an average rate of $3,353 per teu, up 4% on the previous year.

Operating profit for the period was down 17%, to $1.54bn, while ...