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ZIM set to address finance, faces tough start to Q2 on Canada-U.S. lanes

Canada 408 China 2435 Corp - Shipping 753 Earnings 418 Mode - Containerized 1193 Mode - Seaborne 1518 U.S. 4297

ZIM Shipping reported a 3.4% expansion in revenues for Q1 as the container-line balanced a 4.5% drop in volumes handled against an improvement in shipping rates. Like other shipping firms, ZIM faces a volatile outlook and is having to address financing. The firm will “expand its potential liquidity sources by means of improved payment terms with vendors, enhanced efforts of collection from customers and disposal and / or refinancing of assets.” The increase in achieved rates shows a disciplined approach to market share and was helped by its shipping cooperation with Maersk and MSC. Going...

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