News / Zim follows Q2 loss-making trend, joining box rivals in sea of red ink

Zim is the latest box line unable to buck the industry trend of red ink in the second quarter, recording a net loss of $33m.

The Israeli ocean carrier blamed “instability and volatility” in the container market – specifically, lower freight rates and increases in bunker and charter costs.

President and CEO Eli Glickman said: “Q2 18 was characterised by the continued rise in fuel prices and chartering rates, as well as low freight rates, all with a negative impact on the results of carriers, including ...