By Mike Wackett
Another day, another ocean carrier that has turned the corner from loss to profit in Q2.
In the case of niche container line Zim, unlike rival Hapag-Lloyd, it was also in the black for the half-year.
Zim turned around a deficit of $64m in Q2 last year into a net profit of $12.5m, resulting in a cumulative positive of $6.1m for the six months.
Interestingly, like Maersk Line, Zim’s average rate per teu surged on the improved fundamentals, by 16%, but unlike Hapag-Lloyd, which yesterday disappointed investors with its “flat” average rate performance and outlook.
