Zim - increase of 268% in net profit for 2004.

Zim Integrated Shipping Services notified last week the Tel Aviv Stock Exchange that the company's board had approved its financial report
03.04.05 / 00:00
Zim - increase of 268% in net profit for 2004.
03.04.05
Zim - increase of 268% in net profit for 2004.
•

Zim Integrated Shipping Services notified last week the Tel Aviv Stock Exchange that the company's board had approved its financial report.

 

The report indicates that the company posted a net profit of $56.6 million for the fourth quarter of 2004, compared with $39.4 million for the preceding quarter, and $17.8 million for the corresponding quarter of 2003. Zim posted a net profit of $171.8 million for 2004, 268% higher than the $46.6 million posted for 2003.

 

Zim attributed most of the growth to a rise in overseas shipping rates driven by the booming Chinese market for raw materials and transport services made the greatest contribution to Zim's increasing fortunes.

More articles that may interest you
Israel Ports - Development & Assets informed last week that A. Arenson Ltd had been declared the winner in a tender for construction and infrastructure work in the first stage of the Carmel port project in Haifa Port
A. Arenson selected for the construction of first stage of the new Carmel port
Zaltsman will be responsible for regulatory observance and coordination of the port's activities with the Ministry. In a press release, Sheetrit said that he made the decision based on Zaltsman's abilities, knowledge and vast experience in port management
Zaltsman appointed as manager of the port of Haifa
A spokesman for the Ashdod port told reporters that the port was recruiting dozens of new staff. He expressed his hope that the new recruits would solve the staff shortage problem
Ashdod Port – increase in delay surcharge
China Shipping, one of China's largest shipping companies, through its local agent Intermaritime ltd. offers a new weekly service, in co-operation with Zim Lines, to Greece and Adriatic ports. The newly inaugurated service will call at the main Adriatic p
Intermaritime – new weekly service to Greece & Adriatic ports
The Haifa port board of directors appointed last week former Israel Railways general manager, Amos Uzani, as the port's new director general
Haifa port appointed new director general
EMTA conference ( European Mediterranean Trade Agreement ) announced last week a general freight rate increase of us$90/TEU effective from April 7th 2005. The freight rate increase will cover the eastbound leg only
EMTA announced GRI
More news from Sea Transport Section
>Shippers' Council reached agreement with North America Freight Conference/14.03.05 >Ports reform agreement signed last week/28.02.05 >Israel trade delegation visit Aqaba (Al 'Aqabah)/28.02.05 >Israeli Ports reform effective from last Thursday/21.02.05 >Zim – improved service to Djibouti/14.02.05 >Udi Angel has ended his chairmanship of ZIM/14.02.05 >Shippers Council addressed Government to delay port reforms/07.02.05 >MSC Nerissa– the largest MSC ship ever to call Israel/07.02.05 >Galram was nominated sole Israeli representative of the Americam Institute of Marine Underwriters/31.01.05 >Gad Shefer: shipping companies refrain from calling Israeli ports/31.01.05