Comment / Conf call redux: Zim – many questions, few straight answers

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Israeli container carrier Zim yesterday was the last of the deepsea liner companies to issue its third-quarter results and largely fared the same – revenues and profits down (respectively: -36% to $1.8bn; and -61% for adjusted Ebitda to $593m) due to freight rate declines (average freight rate down 35% to $1,602) with an uncertain outlook for the remainder of the year.

But there were differences – as per Container Trades Statistics, global container volumes grew 4.7% year-on-year in the third quarter, ...