RECORD carried volumes helped global container line ZIM Integrated Shipping Services to its best-ever results in 2024.
In its 2024 and fourth quarter financial report released on 12 March, ZIM reported full year revenues of $8.43 billion.
ZIM President and CEO, Eli Glickman, said the company was pleased and proud of its 2024 performance..
“We delivered record carried volume as well as exceptional profitability,” Mr Glickman said.
“Based on our continued progress upscaling our capacity and optimizing our cost structure, we reported our best results ever, excluding the extraordinary COVID period.
“Consistent with our commitment to returning capital to shareholders, the dividend declared today, together with the dividends distributed during 2024, total $7.98 per share, or $961 million, representing approximately 45% of our full-year net income.
“The benefits of our fleet transformation were evident throughout 2024 and reflected in our strong financial results, as well as volume growth that far outpaced the overall market.
“With larger vessels well poised to meet emissions reduction targets and tailored to the trades in which we operate, we increased carried volumes 14% year-over-year, compared to average market growth of approximately 6%, while delivering superior margins.
“Driving our market share gains was the new capacity deployed on the Asia to U.S. East Coast trade, the successful expedited services to the U.S. West Coast, and our expanded presence in Latin America.
“We enter 2025 with a more resilient business and modern cost- and fuel-efficient capacity, 40% of which is LNG-fueled.
“While acknowledging that our industry is highly volatile, exacerbated by current uncertainty related to geopolitics, international political dynamics and economic, fiscal and monetary policies, we are confident in our agile approach and competitive position in the industry.
“Our 2025 outlook of adjusted EBITDA between $1.6 billion and $2.2 billion and adjusted EBIT between $350 million and $950 million assumes trade conditions in the Red Sea will not normalize until the second half of the year at the earliest.”
