December 21, 2014 10:30 PM ET

Marine

Company Overview of Zim Integrated Shipping Services Ltd.

Company Overview

Zim Integrated Shipping Services Ltd. provides shipping solutions worldwide. The company engages in transporting various types of cargoes, including oversized/heavy, refrigerated, and hazardous ones through its fleet and containers. It also offers door to door project management and on-line container tracing services. The company was formerly known as ZIM Israel Navigation Company Limited and changed its name to Zim Integrated Shipping Services Ltd. in August 2004. The company was founded in 1945 and is based in Haifa, Israel with regional headquarters in Haifa, Israel; Norfolk, Virginia; Hamburg, Germany; and Hong Kong. It also has agents and representative offices around the world. Zim Int...

9 Andrei Sakharov Street

Matam Scientific Industries Center

POB 1723

Haifa,  31016

Israel

Founded in 1945

Phone:

972 180 033 1144

Fax:

972 4 865 2956

Key Executives for Zim Integrated Shipping Services Ltd.

President and Director
Age: 62
Chief Financial Officer
President of Asia Pacific Region
President of North America & Caribbean Area
Compensation as of Fiscal Year 2014.

Zim Integrated Shipping Services Ltd. Key Developments

Zim Integrated Shipping Services Ltd. - Fixed Income Call on Nov 26, 2014

Zim Integrated Shipping Services Ltd. - Fixed Income Call on Nov 26, 2014

ZIM Reports Earnings Results for the Third Quarter of 2014

ZIM reported earnings results for the third quarter of 2014. The operating profit (EBIT) on a Non-GAAP basis, for the third quarter of 2014, was $14 million, reflecting a sharp improvement compared to the previous quarter and the corresponding quarter last year, in which the company had an operating loss of $15 million and $28 million correspondingly. On a GAAP basis, the company had a negative EBIT of $251 million in the third quarter compared to $9 million loss in second quarter and a $16 million profit in the corresponding quarter last year. The Non-GAAP EBITDA for the third quarter 2014 was $41 million compared to $23 million in the second quarter of 2014 and $11 million in the corresponding quarter last year. On a GAAP basis, the Company had a negative EBITDA of $97 million in the third quarter compared to $29 million profit in the second quarter of 2014 and $56 million profit in the corresponding quarter last year. The net loss on a Non-GAAP basis in the third quarter 2014 was $20 million, representing $56 million improvement compared to the corresponding quarter last year. On a GAAP basis, the third quarter of 2014 net loss was $63 million, compared to $68 million loss in the second quarter and $42 million loss in the corresponding quarter last] year. The operating cash flow in the third quarter of 2014 was $37 million, an improvement of $18 million compared to the previous quarter and about $22 million compared to the corresponding quarter last year. The total revenues in the quarter were $854 million compared to $875 million in the previous quarter and $900 million in the corresponding quarter last year. The reduction in Revenue was also a result of terminating the service from Asia to northern Europe.

ZIM Integrated Shipping Services Ltd. Appoints Aharon Fogel as New Chairman

ZIM Integrated Shipping Services Ltd. has announced the appointment of Aharon Fogel as its new chairman. Fogel was elected in view of his many years of experience in economics and finance. Fogel joins Zim following a diverse career in both the public and private sectors. Over the years he has held a number of senior positions, including Director General of the Israeli Ministry of Finance, Chairman of NESS Technologies, Chairman of Migdal Insurance and Chairman of the Advisory Committee to the Bank of Israel.

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