The Israeli shipping firm’s revenue fell 30% year-over-year amid lower cargo volumes and freight rates.
ZIM Integrated Shipping Services Ltd. reported a net loss of $86 million for the first quarter, reversing a $296 million profit from the same period last year. The company cited weak demand and softer freight rates as key drivers of the decline.
Revenue dropped 30% year-over-year to $1.4 billion, while carried volume fell 8% to 866,000 TEUs. Adjusted EBITDA plunged 60% to $313 million, and the average freight rate per TEU declined 26% to $1,310.
The results align with industry-wide challenges, including difficult comparisons due to 2025’s elevated frontloading ahead of tariff increases. ZIM is set to be acquired by Germany’s Hapag-Lloyd.