http://zim.com/Zim’s results for Q2/2010 • In Q2/2010 Zim posts operating income for the first time since the economic crisis, as well as net income. The company closed the cash flow gap versus its business plan prepared during the financial restructuring. Financial Highlights • Zim Posts First Operational Income Since the Economic Crisis: For Q2/2010, Zim’s revenues increased by 72% compared to the Q2 of 2009 to $933 million, generating an operating income of $46 million, EBITDA of $87 million, and net income of $3 million. This is the first time since the economic crisis that Zim has reported positive operating income. These results were achieved not only owing to the dramatic improvement in the market conditions in the container shipping sector but also as a result of the internal efficiency program and structural changes implemented by the company. Zim recorded positive cash flow from operating activities of $94 million during the second quarter. As such, it has fully closed the gap versus its business plan (approximately $70 million), which was reported at the beginning of the year. Zim’s net income for the second quarter of 2010 was $3 million, as opposed to a loss of $186 million for the second quarter of 2009. Mr. Nir Gilad, Zim’s Chairman and CEO of Israel Corp., stated, “Last year, Zim completed complex global financial restructuring, the execution of which required, among other things, a massive injection of capital by Zim’s main shareholder, Israel Corporation. The dramatic improvement that Zim has achieved in the second quarter confirms that Israel Corporation’s strategic decision, which was in its own interest, to support ZIM by injecting this massive capital, which was also authorized by the General Assembly, has proven itself so far. “I am happy to report Zim’s dramatically improved results in the second quarter, as demonstrated by the operating income recorded for the first time since implementing its financial restructuring, as well as a net income. Equally impressive, Zim has closed the cash flow gap versus its business plan. In this vein, it is important to note two important factors: 1) the re-organization that Zim completed, the peak of which was the stabilization plan; and 2) the completion of the plan, the last step of which was concluded with the delivery of vessels from the Korean shipyards and the injection of an additional $500 million via international banking financing.” The banking community’s continuing support of Zim, the dramatic improvement in its business results and the success of its re-organization and efficiency measures, are already proving themselves and pointing towards Zim’s steady movement away from the crisis as demonstrated already last year with the completion of its financial restructuring and the upgrade of Zim’s bonds’ credit rating. Detailed Financial Results ZIM’s net income in Q2 totalled $3 million compared to a loss of $186 million in Q2 of 2009. Revenues for the second quarter were $933 million compared to $543 million in the comparable quarter of 2009, an increase of approximately 72%. The increase in revenues resulted primarily from a growth in quantities of cargo carried, higher freight rates, income from uncompleted voyages and revenues from subsidiaries. In Q2/2010, average freight rates rose by 26% from approximately $1,057 per TEU in Q2/2009. to approximately $1,328. Approximately 547,000 TEU were carried in the second quarter, compared to about 438,000 during the comparable quarter of 2009. ZIM’s operating income for Q2/2010 totalled approximately $46 million as opposed to an operating loss of $224 million for Q2/2009. ZIM’s EBITDA for the second quarter totalled $87 million as opposed to negative EBITDA of $188 million for the second quarter of 2009. Compared to the first quarter of 2010, ZIM’s revenues for the second quarter increased by approximately $190 million, (increase of about 25%,), together with an improvement of about $129 million operating income and an improvement of about $85 million in the net income. 8/26/2010 4:46:11 PMhttp://www.zim.com/NewsContent.aspx?id=1687&l=4&isArchive=0&newsCatId=188ZIM wishes to inform that a General Rate Increase (GRI) of USD 400 per TEU will be implemented as of August 1st, 2010. The GRI applies to cargo from Asia and Indian sub-continent to Mediterranean, Israel, Black Sea and North Europe destinations. This update is necessary in order to maintain our current levels of service and high reliability6/20/2010 11:01:42 AMhttp://www.zim.com/NewsContent.aspx?id=1683&l=4&isArchive=0&newsCatId=188ZIM would like to inform that a Peak Season Surcharge (PSS) of $175 per 20' and $350 per 40 ' will be implemented as from July 1st 2010 (Loading date) in the following trades: Asia-Europe (north & south) Asia-Mediterranean Asia – Black Sea 6/6/2010 8:07:50 AMhttp://www.zim.com/NewsContent.aspx?id=1679&l=4&isArchive=0&newsCatId=188ZIM would like to inform that effective July 1st, 2010, a General Rate Increase (GRI) will be implemented on westbound cargo from North Europe, Scandinavia and Baltic ports to USA & Canada, as follows: USD 350 per 20' Container USD 450 per 40'/40HC containers (dry van and refrigerated) This change is necessary in order to maintain our current levels of service and high reliability.6/1/2010 11:39:02 AMhttp://www.zim.com/NewsContent.aspx?id=1677&l=4&isArchive=0&newsCatId=188ZIM would like to inform that the General Rate Increase (GRI) on the Cross-Suez Trade is postponed, and will take effect on June 1st, 2010. The GRI has been adjusted to USD 250.- per TEU. The GRI applies to cargo from Asia and Indian sub-continent to Mediterranean, Black Sea and North Europe destinations.5/16/2010 6:58:47 AMhttp://www.zim.com/NewsContent.aspx?id=1675&l=4&isArchive=0&newsCatId=188Zim would like to announce that a General Rate Increase will be implemented in the North Europe to East Mediterranean trade, effective June 1st, 2010, as follows: From North Europe to Israel US$ 100 per teu From North Europe to East Mediterranean EUR 75 per teu. The increase is necessary in order to maintain our current levels of service.5/2/2010 9:21:36 AMhttp://www.zim.com/NewsContent.aspx?id=1671&l=4&isArchive=0&newsCatId=188ZIM wishes to inform that a General Rate Increase (GRI) will be implemented as of May 15th, 2010, (Loading Date) on the following trades: South Bound from East Mediterranean ports to East and South Africa – USD150/TEU North Bound from East and South Africa to East Mediterranean - USD150/TEU South Bound from Israel to East and South Africa - USD100/TEU North Bound from East and South Africa to Israel - USD100/TEU This update is necessary in order to maintain our current levels of service and high reliability.4/29/2010 8:04:27 AMhttp://www.zim.com/NewsContent.aspx?id=1669&l=4&isArchive=0&newsCatId=188ZIM wishes to inform that a General Rate Increase (GRI) of USD 200 per TEU will be implemented as of May 15th, 2010. The GRI applies to cargo from Asia and Indian sub-continent to Mediterranean, Black Sea and North Europe destinations. This update is necessary in order to maintain our current levels of service and high reliability.4/25/2010 6:51:59 AMhttp://www.zim.com/NewsContent.aspx?id=1665&l=4&isArchive=0&newsCatId=188ZIM wishes to inform that a General Rate Increase (GRI) of USD 300 per TEU will be implemented as of April 15th, 2010. The GRI applies to cargo from Asia and Indian sub-continent to Mediterranean, Black Sea and North Europe destinations. This amendment is necessary in order to maintain our current levels of service and high reliability.3/23/2010 11:08:25 AMhttp://www.zim.com/NewsContent.aspx?id=1663&l=4&isArchive=0&newsCatId=188As part of the continuous efforts to address customers’ needs, ZIM is pleased to announce the introduction of Asia-Med-Europe (AME), a new Cross Suez service between Asia, India, Mediterranean and Europe. The new service, based on 12 x 3,800 TEU’s vessels, will take effect as from April 7th 2010 in Shanghai. Port rotation will be as follows: Shanghai-Da Chan Bay – Port Kelang – Colombo - Nhava Sheva – Haifa –Ashdod –Felixtowe – Antwerp – Hamburg –Alexandria - Limassol – Haifa – Ashdod – Colombo- Shanghai . The service will offer additional direct links to Europe and Mediterranean from China, South East Asia and India. ZIM’s NEC line between East Mediterranean and Europe will be combined with this service, sustaining the same scope and reliable service level. This service will be complimentary to ZIM’s Cross Suez services including: ZIM’s EMX service and slot swap agreement on the Asia-Europe Grand Alliance strings, Loops, A, B and C.3/16/2010 1:35:55 PMhttp://www.zim.com/NewsContent.aspx?id=1662&l=4&isArchive=0&newsCatId=188Compania Chilena de Navegacion Interoceanica (CCNI), Hanjin Shipping, Hapag-Lloyd, Wanhai Lines and Zim Integrated Shipping Services have agreed to cooperate on the service from Asia to South America East Coast via South Africa. The joint operation will take effect on April serving Korea, Central and South China, Sinagapore, South Africa, Brazil, Uruguay and Argentina. The new weekly service will consist of eleven vessels of 4,200 TEU, Hanjin and Zim deploying 3 vessels each, CCNI and Wanhai – 2 vessels each and Hapag-Lloyd deploying one vessel plus slot purchase from other lines. Partners are confident their service will provide a viable addition to the trade, offering each their network and expertise in Asia and South America.2/12/2010 7:41:42 AMhttp://www.zim.com/NewsContent.aspx?id=1657&l=4&isArchive=0&newsCatId=18822nd September 2009: ZIM Integrated Shipping Services is pleased to announce that from 1st October it will call at the Egyptian port of Alexandria as part of its Adriatic Express Service (ADX). By adding Alexandria to the Adriatic Express Service, ZIM’s customers can benefit from a wider range of direct services between the Adriatic and Eastern Mediterranean. ZIM is committed to offering the best possible service to its customers. Adding Alexandria to the popular Adriatic Express Route will allow greater flexibility to this important shipping route. The Adriatic Express Service is a fixed-day weekly service, operating two 1,300 TEU’s vessels at the following route: Koper – Trieste – Venice – Ravena – Alexandria – Haifa – Ashdod – Koper.9/22/2009 9:26:19 AMhttp://www.zim.com/NewsContent.aspx?id=1629&l=4&isArchive=0&newsCatId=188ZIM STEPS INTO THE NEW ERA OF WORLD SHIPPING: ZIM Receives First Mega Vessel, strengthening the strategic partnership with the Grand Alliance. Idan Ofer, Chairman of ZIM, said: “The world economy is changing, in particular the shipping market, and when the economic crisis is over we must be ready with the appropriate fleet to meet the world demand." ZIM’s CEO, Rafi Danieli, said: “The new mega vessels are a major step forward for the company’s fleet. They are significantly larger than the other ships we own and, as they can carry more containers, they are considerably more efficient. The delivery of the new vessels will lay the foundation to positioning ZIM as a leading company in the years to come." July 13, 2009: ZIM Integrated Shipping Services received the first consignment of its 12 mega vessel order with the arrival of ZIM LOS ANGELES. The 8,400 TEU ZIM LOS ANGELES is the first mega vessel owned by the company and will be followed by the delivery in two weeks time of ZIM DJIBOUTI. The 10,000 TEU containership will subsequently become ZIM’s largest vessel, twice the size of ZIM’s current flag ship. Both vessels will serve in partnership with the Grand Alliance serving the Pacific Northwest Service (PNX) loop from East Asia to West Coast US and Canada, providing an efficient and cost effective service for ZIM’s customers. Rafi Danieli added: “We have a strong partnership with the Grand Alliance. The introduction of the two new vessels will be the eighth cooperation agreement we have with the Alliance. This partnership with the Grand Alliance was enabled based on the company’s new building plan, and is an important strategic milestone in the company’s stabilization and recovery plan.” The mega vessels, built by Hyundai SAMHO Shipyards in South Korea, will enable ZIM to continue to offer weekly services on the route, whilst expanding the coverage by calling at additional ports through Asia and North America. Vessels particulars: ZIM LOS ANGELES - Vessel size: 8,440 TEU - Vessel deadweight: 108,574 tons - Quantity of steel used: 33,000 tons - Total refrigerated container capacity: 700 FEU (500 on deck and 200 in holds) - Speed of vessel: 25.6 knots ZIM DJIBOUTI - Vessel size: 10,062 TEU - Vessel deadweight: 116,440 tons - Quantity of steel used: 37,900 tons - Total refrigerated container capacity: 800 FEU (600 on deck and 200 in holds) - Speed of vessel: 25.8 knots 7/13/2009 9:43:32 AMhttp://www.zim.com/NewsContent.aspx?id=1615&l=4&isArchive=0&newsCatId=188