ZIM Announces Updated Freight Rates
ZIM Announces Updated Freight Rates on Its Asia–Mediterranean Line (ZMP) Due to Increased Operational Costs
Haifa, Israel, December 12,2023 - ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), has informed its customers of updated freight rates on its ZMP line, connecting Asia and the Mediterranean.
In response to the continuous threats to the safe transit and global trade in the Arabian and Red Seas, ZIM has implemented temporary proactive measures to ensure the safety of its crews, vessels, and customers' cargo, including the re-routing of some of its vessels. Consequently, due to an increase in operational costs, the company has informed its customers of updated freight rates on the ZMP service line.
ZIM reaffirms its unwavering commitment to serving the East Mediterranean and Israeli ports. Operations to and from these ports will be maintained with the utmost consideration for safety protocols, which are essential to safeguarding the interests of all stakeholders.
ZIM is closely monitoring the situation to address potential risks and ensure the ongoing safety and efficiency of its operations. The company is committed to keeping its customers informed of any developments.
ZIM will uphold the highest level of service for its customers.
Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 34,000 customers in over 200 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.
The following information contains or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about the Company, may include projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company’s current expectations and projections about future events or results. There are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: escalation or other developments on the Arabian and red sea, market changes in freight, bunker, charter and other rates or prices, supply-demand fluctuations in the containerized shipping market, new legislation or regulation affecting the Company’s operations, new competition and changes in the competitive environment, our ability to achieve cost savings or expense reductions, the outcome of legal proceedings to which the Company is a party, global, regional and/or local political instability, inflation rate fluctuations, capital markets fluctuations and other risks and uncertainties detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), including under the caption “Risk Factors” in its 2022 Annual Report filed with the SEC on March 13, 2023.
ZIM Integrated Shipping Services Ltd.