Zim Integrated Shipping Serv Stock Price, News & Analysis

ZIM Integrated Shipping Services Ltd. announced a tax ruling from the Israeli Tax Authority, impacting the dividend distribution scheduled for September 15, 2021. Shareholders may benefit from a reduced withholding tax rate compared to the standard rate of 25% to 30%. The dividend payment is set at $2.00 per share, totaling approximately $238 million, and will be distributed to shareholders on record as of August 25, 2021. To qualify for the reduced tax rate, shareholders must submit required documentation by October 11, 2021.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) reported robust financial results for Q2 and H1 2021. Net income surged to $888 million, or $7.38 per diluted share, from $25 million in Q2 2020. Revenues reached $2.38 billion, marking a 200% increase year-over-year. Adjusted EBITDA grew to $1.34 billion, an 820% rise. The average freight rate per TEU climbed to $2,341, a 119% increase. ZIM announced a $238 million special cash dividend and anticipates paying a 30-50% dividend of 2021 net income in 2022.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is set to release its second quarter 2021 financial results on August 18, 2021, before U.S. markets open. A conference call will follow at 8:00 AM ET for management to discuss the results and provide updates. Participants can access the call via telephone or through a live webcast on ZIM's website. Founded in 1945, ZIM has established its position as a leader in the global container shipping market, noted for its innovative services and reliability.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) and Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), have entered a strategic agreement for the long-term charter of ten 7,000 TEU LNG dual-fuel container vessels, valued over $1.5 billion. This builds on a prior agreement for ten 15,000 TEU LNG-fueled vessels. ZIM's CEO, Eli Glickman, emphasized the focus on enhancing their fleet and reducing carbon footprint through this partnership, while Seaspan’s CEO, Bing Chen, highlighted their commitment to sustainable growth.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced an extension of its cooperation agreement with Alibaba.com for two more years, enhancing their collaboration that began in 2020. The agreement allows Alibaba.com sellers and buyers to access ZIM's sea freight and logistics services, providing a cost-effective alternative to air freight. This partnership aims to improve customer experience and respond to the growing demand for eCommerce logistics. ZIM is focused on becoming a leading eCommerce service provider by leveraging its extensive shipping network.

ZIM Integrated Shipping Services Ltd. announced the closing of a secondary offering of 8,021,250 ordinary shares at $40.00 per share on June 10, 2021. The offering included 1,046,250 shares from an underwriter's option, fully exercised. ZIM did not receive any proceeds from this sale. Major financial institutions, including Citigroup and Goldman Sachs, coordinated the offering. The shares are listed on the NYSE under the ticker 'ZIM'. This announcement outlines ZIM's ongoing market activities without indicating significant changes to its financial outlook.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced the pricing of a secondary offering of 6,975,000 ordinary shares at $40.00 each, slated to close on June 8, 2021. Selling shareholders are responsible for the offering, with underwriters granted a 30-day option to purchase an additional 1,046,250 shares. Importantly, ZIM will not receive any proceeds from this offering. Citigroup, Goldman Sachs, and Barclays are the global coordinators for this transaction. This offering is made under an effective SEC registration statement and requires customary closing conditions.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced a secondary offering of 6,730,583 ordinary shares by certain selling shareholders, with an option for underwriters to purchase an additional 1,009,587 shares. The Company will not receive proceeds from this offering. Citigroup, Goldman Sachs, and Barclays are the global coordinators, while Jefferies and Clarksons Platou are joint bookrunners. A registration statement has been filed with the SEC but is not yet effective, meaning securities cannot yet be sold.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) reported strong Q1 2021 results with a net income of $589.6 million, a stark contrast from a loss of $11.9 million in Q1 2020. Revenues surged to $1.74 billion, up 112% year-over-year, propelled by a 28% increase in carried volume, reaching 818,000 TEUs. The average freight rate rose 76% to $1,925 per TEU. The company also declared a special cash dividend of $238 million and expects adjusted EBITDA for the year to range between $2.5 billion and $2.8 billion, marking a significant upward revision.