News / Zim revises guidance to full-year loss over 'muted' demand for rest of year

Source Zim

Ongoing weakness in container shipping has forced Israel’s Zim to drastically re-evaluate its full-year performance, now expecting a loss that far outweighs analysts’ predictions.

Updating its guidance today, the carrier announced it was revising 2023 Ebitda down from $1.8bn-$2.2bn to $1.2bn-$1.6bn, with Ebit adjusted from profit of as much as $500m to a loss of $100m-$500m, markedly more than the $95m loss analysts suggested in May.

Chief executive Eli Glickman said: “Near-term container shipping market conditions continue to be challenging, with demand ...