ZIM Integrated Shipping Surges 22% Following Strong Q2 Results

Record profits and increased capacity drive optimism for sustained growth amid ongoing Red Sea crisis.

ZIM reported a net profit of $373 million and revenues of $1.93 billion for Q2 2024.
The company saw an 11% increase in cargo volume and a 40% rise in average freight rates.
Adjusted EBITDA surged 179% year-over-year to $766 million, with margins improving to 40%.
ZIM raised its full-year adjusted EBITDA forecast to $2.6-$3 billion, up from $1.5-$1.55 billion.
CEO Eli Glickman attributed success to strategic market positioning and increased spot market exposure.