Rumours that Israeli shipping line Zim is once more considering an initial public offering were eventually confirmed a week ago in the small print that accompanied an announcement according to which the carrier is buying up to $58.5m of its debt from bondholders in a Dutch auction process.

The company, which has one of the more chequered financial histories in a sector that specialises in chequered financial histories, has clearly been bolstered by the unexpectedly strong earnings the industry has enjoyed in recent ...

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