SeaNews Turkey - Zim posts a loss of US$397 million in 2011, down 835pc year on year

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WORLD SHIPPING

Zim posts a loss of US$397 million in 2011, down 835pc year on year

ISRAELI's Zim Integrated Shipping Services (Zim) has announced a 2011 financial loss of US$397 million, down 835 per cent from a profit of $54 million in 2010.
Saturday, 31.Mar.2012, 11:17 (GMT+3)

ISRAELI's Zim Integrated Shipping Services (Zim) has announced a 2011 financial loss of US$397 million, down 835 per cent from a profit of $54 million in 2010.

In the fourth quarter of 2011, the carrier reported a loss of $96 million, worsening from a $66 million loss in the previous quarter. Zim made a profit of $151 million in the last quarter of 2010.

Zim is the world's 16th largest carrier with a two per cent market share, according to Alphaliner's Top 100 League Table.

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