Zim Integrated Shipping Services reports unexpected Q4 earnings despite falling freight rates and container volumes in 2025, says S&P Global.
Israeli flag carrier Zim Integrated Shipping Services reports stronger than expected fourth-quarter earnings even as freight rates and container volumes fell in 2025, reported London's S&P Global.
The Israel-based carrier handled 3.6 million TEU last year, a 2.3 percent decline from 2024 and its first annual drop since 2023. Cross-Suez and transatlantic services fell by 13 percent and 10 percent, while transpacific volumes, which make up 43 percent of Zim's business, slipped by 1.6 percent. Intra-Asia and Latin America trades rose by four percent and two percent.
Average freight rates in the fourth quarter were US$1,333 per FEU, down 29 percent year on year. Despite this, Zim posted earnings of 32 cents per share, beating analyst forecasts of a 52-cent per share loss. Revenue of $1.48 billion came in about $50 million below estimates.
Zim, which is being acquired by Hapag-Lloyd, declined to issue 2026 guidance or hold a conference call. Chief executive Eli Glickman stated that the carrier expects continued pressure on freight rates.
In 2025, Zim signed long-term charters for 36 newbuild ships ranging from 3,000 TEU to 12,000 TEU, adding 250,000 TEU of capacity. Deliveries are due to begin in the second half of 2026. The carrier ended the year with 115 ships totaling 707,000 TEU, with 13 charters expiring in 2026 and another 17 in 2027.
