ISRAEL's Zim
Integrated Shipping Services narrowed its first quarter net loss to US$6.4 million
from the $56.3 million quarterly loss made last year. This year's first quarter
revenue was up four per cent to $655 million.
Zim
carried 598,000 TEU in the first quarter, up 3.6 per cent year on year, with an
average freight rate of $953 per TEU, up from $943 per TEU during first quarter
2016, reported American Shipper.
The
company noted that despite the current volatility in the container shipping
market, "since Q3 2016 we have been witnessing a positive trend in the
industry with slightly improved freight rates in some trades."
"With
the new alliance structure in place, Zim, as an independent, global niche
carrier, can offer unique advantages to customers and is well prepared for the
current market challenges," said Zim CEO Rafi Danieli.
"The
renewed network of services we introduced in April is aimed at enhancing our
ability to improve our performance and achieving better results, while
providing superior services to our customers."
Source
: HKSG.
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