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ASLINE - AFRICAN SHIPPING LINE DUBAI

October 30, 2021

ZIM SHIPPING LINE POSTS HISTORICAL $525 MILLION DOLLARS PROFIT, PURCHASES 7 MORE SHIPS

 

Zim Lines revenues up with 20% in 2020.

ZIM wasn’t the only company to benefit from the pandemic; the Israeli shipping firm Zim has rebounded spectacularly in the past year from a long period of financial decline.

The rebound is in large part attributable to the pandemic, which caused a shortage of empty containers due to disruption of global trade, thereby driving up shipping rates. According to the Financial Times, “the cost of shipping goods from China to Europe has more than quadrupled in the past eight weeks.”

Zim expects to report revenue for 2020 of $4 billion, 20% more than in 2019, and to swing to a profit of $500-525 million, mainly coming in the fourth quarter, from a loss of $13 million in 2019, reported Globes on Sunday.

Zim’s stock flotation in New York has seen a return of almost 90%.

CEO Eli Glickman told the paper that “in the last three to four months we have seen peak prices for container shipping, leading to excellent results for the companies. Zim has been improving substantially for many quarters, and is a leader for its profit margins among shipping lines around the world.”

Glickman described several factors behind the trend: “First of all, the halting of air cargo services because of the pandemic contributes to extra demand at sea; secondly, people are sitting at home and spending less money on restaurants, vacations and trips abroad, so they have more money to spare and they invest in home improvements, in buying office equipment, building materials, and so on, and that creates extra demand in the Western world; thirdly, there’s a rise in the transport of goods bought through ecommerce, which were mainly transported by air, such as mobile telephones and home appliances.”

Zim Lines to repay $ 85.4 million on bonds listed on the Tel Aviv stock exchange

The company raised $218 million in the flotation at $15 per share, giving it a pre-money valuation of $1.5 billion, lower than the price range it had aimed for ($16-19 per share). Even so, the share price still managed to fall 23% on its first day, to a low of $11.15.

Zim’s share price has continued rising. At the end of last week, following a 30% jump the week before, it closed at $28.25, giving the company a market cap of $3.25 billion. Since its flotation, the return on the share has been 89%.

Two recent announcements have also bolstered Zim’s profile: the company reported that it had signed a strategic agreement with Seaspan to lease ten natural gas-powered ships, in a deal valued at over $1 billion; the second was of partial redemption of two bond series listed on the Tel Aviv Stock Exchange. Altogether, the company will repay $85.4 million, 28% of the bond principal.

Meanwhile, ZIM Integrated Shipping Services Ltd., announced that during the month of October 2021, it purchased seven secondhand vessels (built between 2007-2009) in a number of separate transactions. The vessels purchased include five 4,250 TEU vessels and two 1,100 TEU vessels, for a total consideration of approximately $320 million.

Eli Glickman, ZIM President & CEO, stated: "Since going public our focus has been to allocate capital to strengthen our commercial prospects and create long-term shareholder value. With the opportunistic acquisition of these much-needed vessels, we have drawn on our strong cash position and our agile approach to maintain and expand our operating fleet to meet growing customer demand, while remaining committed to delivering industry superior profitability. Going forward, we will continue to complement our primary strategy of chartering-in the vast majority of our vessels, by selectively acquiring second-hand tonnage when the appropriate opportunities arise."

PIL LAUNCHES DIRECT CHINA -GULF SERVICE


Pacific International Lines (PIL) is pleased to announce the launch of a new weekly direct service connecting Central and South China to the Gulf area in the Middle East. This new service augments our existing CSG service linking China and South East Asia to the Gulf area.

Effective from 23 November 2021, this new service, known as Gulf China Service (GCS), will be offered by a consortium of vessels with an average capacity of 3000 TEUs, jointly deployed by PIL, Regional Container Lines (RCL) and CULines (CUL).

This new direct service is part of PIL’s continuous efforts to respond to the needs of our customers for more direct and efficient services. Customers who book on this new GCS service will enjoy fast transit times from Ningbo, Nansha and Shekou, to Jebel Ali and Dammam.

PIL’s vessel “Kota Kamil” will embark on the maiden voyage of this new service commencing ETB NGB 23 November 2021.

The ports of call for this GCS service are:Gulf China Service (GCS) Service Rotation:

Ningbo - Nansha - Shekou - Jebel Ali - Dammam - Ningbo

August 25, 2021

MAERSK LINE TO SPEND $1.4 BILLION DOLLAR ON 8 NEW 'CARBON NEUTRAL' SHIPS

The world’s biggest shipping company is investing $1.4bn (£1bn) to speed up its switch to carbon neutral operations, ordering eight container vessels that can be fueled by green methanol as well as traditional bunker fuel.

The Danish shipping business Maersk said the investment in new vessels would help to ship goods from companies including H&M Group and Unilever, while saving more than 1m tons of carbon emissions a year by replacing older fossil fuel-driven ships.

In the first quarter of 2024, A.P. Moller - Maersk will introduce the first in a groundbreaking series of 8 large ocean-going container vessels capable of being operated on carbon neutral methanol. The vessels will be built by Hyundai Heavy Industries (HHI) and have a nominal capacity of approx. 16,000 containers (Twenty Foot Equivalent - TEU). 

The vessel order, placed with South Korea’s Hyundai Heavy Industries, is the single largest step taken so far to decarbonize the global shipping industry, which is responsible for almost 3% of the world’s greenhouse gas emissions.

The shipping industry has been relatively slow to react to calls to reduce fossil fuel use, in part because cleaner alternatives have been in short supply and are more expensive.

Søren Skou, the Maersk chief executive, said: “The time to act is now, if we are to solve shipping’s climate challenge.

“This order proves that carbon neutral solutions are available today across container vessel segments and that Maersk stands committed to the growing number of our customers who look to decarbonise their supply chains.

“Further, this is a firm signal to fuel producers that sizeable market demand for the green fuels of the future is emerging at speed.”

The eight vessels, which will each have capacity for 16,000 containers, are expected to be delivered by early 2024. They will be 10-15% more expensive than bunker fuel container ships, each costing $175m.

The agreement with HHI includes an option for 4 additional vessels in 2025. The series will replace older vessels, generating annual CO2 emissions savings of around 1 million tonnes. As an industry first, the vessels will offer Maersk customers truly carbon neutral transportation at scale on the high seas. More than half of Maersk’s 200 largest customers have set – or are in the process of setting – ambitious science-based or zero carbon targets