ZIM Integrated Shipping operated in the red in 2011
High oil prices and low freight rates caused troubles to the Israeli container shipping line
ZIM Integrated Shipping in the 2011 financial year For the Israeli container shipping company ZIM Integrated Shipping, 2011 was a difficult year marked by the development of a new business model. The problems were based on the examplary high oil prices, which were on average 38 per cent over the comparable figures for 2010. This was opposed to a decline in freight rates of 15 per cent on average. Nevertheless, CEO Rafi Danieli designs, with reference to the new "business plan", a positive scenario of financial stability for the 2012 fiscal year.
In the 2011 balance sheet the Israeli shipping group posted sales increases by two per cent to USD 3.8 billion. Operating results turned from positive USD 223 million in 2010 to minus EUR 276 million. The annual net profit was minus EUR 397 million (2010: plus USD 54 million).
The fleet consisting of 100 container ships transported worldwide around 2.4 million TEU in the reporting period, representing an increase of 9 per cent compared to last year.
Quelle: LogEastics
Portal: www.logistik-express.com