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Comment / After stellar ZIM delivery, it's 'happy birthday' to the Red Sea crisis

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Judging by the phenomenal Q3 24 numbers released yesterday by Israel’s ZIM, whose stock has almost quintupled from a year ago’s lows, the Red Sea crisis that started in late 2023 was just what the doctor ordered for container shipping.

There’s one number that testifies to how good it was for ZIM, ironically one of the chief targets of the Houthis.

Rewind

It was in May when the carrier upped its 2024 guidance, suggesting it would generate adjusted Ebitda of between $1.15bn and ...

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