News / Zim joins fleet of carriers reporting proftable Q2 despite declining volumes

Zim has joined the fleet of major shipping lines posting impressive second-quarter profits, despite significant volume declines.

At $25.3m, the Israeli carrier’s Q2 net profit was its highest in a decade, and a whopping 394% increase on Q2 19.

Liftings were down 12.3% year on year, at 641,000 teu, however, while total revenue fell 4.7% to $834.3m.

On the other hand, Zim’s average rate per teu increased 7.9% to $1,071, underlining how carriers’ tight grip on capacity and costs has yielded bumper results.

“The ...