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ZIM Integrated Shipping Services Ltd (NYSE: ZIM) is a leading innovator in global container shipping and maritime logistics. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives shaping this NYSE-listed transportation provider.
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Discover updates on ZIM's asset-light operational model, fuel-efficient vessel deployments, and specialized cargo solutions. Content is organized for quick scanning while maintaining depth for professional analysis. Bookmark this page for streamlined monitoring of ZIM's market position within the evolving global supply chain landscape.
ZIM Integrated Shipping Services (NYSE: ZIM) has announced the release date for its second quarter 2024 financial results. The company will unveil its Q2 2024 performance on Monday, August 19, 2024, before the U.S. financial markets open. Following the release, ZIM's management will host a conference call and webcast at 8:00 AM ET to discuss the results and provide a corporate update.
Investors and interested parties can access the live conference call via telephone or webcast. The call will be accompanied by a slide presentation available through ZIM's website. For those unable to attend the live event, a replay of the conference call will be made available on the company's website following the conclusion of the call.
Climate-tech startup CarbonBlue has secured $10 million in seed funding to expand and deploy its groundbreaking water-based Carbon Dioxide Removal (CDR) technology. The company's Direct Water Capture technology can utilize any type of water, allowing integration with existing water infrastructure to combat global warming.
The funding round was led by Ibex Investors and FreshFund, with participation from strategic investors including Engie New Ventures and ZIM Ventures. The investment will enable CarbonBlue to scale up its technology, expand global operations, and pursue novel integrations with water-utilizing industrial facilities.
CarbonBlue's process is praised for restoring ocean health while permanently removing CO2 without adding chemicals, positioning the company as a significant contributor to the global effort against climate change.
ZIM Integrated Shipping Services announced an update on withholding tax procedures related to its upcoming cash dividend distribution on June 11, 2024. ZIM has secured an extension from the Israeli Tax Authority, allowing eligible shareholders a reduced Israeli withholding tax rate. Shareholders must comply with specific documentation requirements by July 7, 2024. The dividend, previously announced on May 21, 2024, is $0.23 per ordinary share, totaling approximately $28 million. ZIM has appointed IBI Trust Management as an agent to facilitate the process. Shareholders are advised to consult their own tax and financial advisors regarding individual tax liabilities.
ZIM Integrated Shipping Services reported strong financial results for Q1 2024, with revenues of $1.56 billion, a 14% increase year-over-year. Net income was $92 million, reversing a net loss of $58 million from Q1 2023. Adjusted EBITDA rose 14% to $427 million, and operating income (EBIT) reached $167 million, significantly improving from a $14 million loss in the prior year. The company carried 846k TEUs, a 10% increase, with an average freight rate of $1,452 per TEU. ZIM raised its full-year 2024 guidance to an Adjusted EBITDA of $1.15-1.55 billion and Adjusted EBIT of $0 to $400 million. A dividend of $0.23 per share was declared, representing 30% of quarterly net income. However, net debt rose to $3.11 billion by March 31, 2024, compared to $2.31 billion at the end of 2023.
ZIM Integrated Shipping Services (NYSE: ZIM) will release its first quarter 2024 financial results on Tuesday, May 21, 2024, before the U.S. financial markets open. A conference call and webcast will follow to review the results and provide a corporate update.
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