If, by pure chance, you bumped into the end-2021 adjusted ebitda line of Zim Integrated Shipping Services (ZIM) – expected to be up to a mighty $6.4bn for the year – you may be forgiven for thinking you were looking instead at the corresponding figure for AP Møller-Mærsk (APMM) in 2019* – which, in turn, was a lot more than the Danish group made in 2018.

(*That is: including non-shipping activities, $5.9bn ebitda, with 708 chartered/owned vessels versus $3.8bn, with 710 vessels in 2018)

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