Zim has $82 million loss in 1st quarter
Zim Line had a first quarter net loss of about $82 million, compared with a net loss of about $119 million in the corresponding 2009 period.
Revenue for the first quarter was $745 million versus $622 million in the first quarter of 2009. Results were reported by Zim’s parent, Israel Corp.
The company said it moved about 509,000 TEUs in the quarter, 24 percent more than in the first quarter of 2009, but average shipping price per container in the first quarter fell 12 percent to about $1,200 per container. However, it noted that freight rates had improved from the fourth quarter of 2010 when they were $1,136 per container.
Zim has $82 million loss in 1st quarter
