News / Zim bucks a flat market with Q1 volume growth and record profit

Photo: Zim

Zim’s strategy of launching new services in high-demand markets, while restricting its contract portfolio on the transpacific, boosted its first-quarter liftings growth and average rate per teu above the industry par.

Where most carriers have reported year-on-year declines in volumes in Q1, due to port congestion, the Israeli carrier saw liftings rise 5%, to 859,000 teu, on the back of ten new services since the beginning of the year, including intra-Asia routes and Asia-Australasia.

Zim’s revenue soared 113% on the same period ...