TPM: Forwarders need 'clout' to survive as the ocean carriers move in
Ocean carriers undermining forwarders that don’t have “enough clout” will drive consolidation this year. Delegates ...
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By Mike Wackett
Israeli niche trades container line Zim recorded an adjusted net profit of $50m for 2017, following a loss of $150m in 2016 – but the carrier slipped back into the red in the final quarter.
Zim’s total revenue last year was up 17% on 2016 to $2.98bn, as it loaded 8% more containers on its ships to reach 2.6m teu.
Operating profit (ebitda) was $246m, versus a negative of $50m in 2016.
President and chief executive Eli Glickman said: “I’m proud to say that Zim’s ...
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