Zim Narrows Loss, Boosts Cargo Volume

6/1/2010 9:42:58 AM

Zim Integrated Shipping Services narrowed its first quarter loss to $82 million from $119 million a year.   The Israeli ocean container carrier boosted revenue by 20 percent to $745 million in the three months to the end of March from $622 million in the same period in 2009, parent Israel Corp. reported.   Traffic rose 24 percent to 509,000 20-foot equivalent units from 410,000 TEUs a year ago, but average freight rates per container slipped 12 percent to $1,200 from $1,369.   Over the past year Zim has climbed from 18th to 15th in the ocean carrier rankings with a fleet of 98 owned and chartered vessels with a combined capacity of 324,582 TEUs, according to Paris-based consultant Alphaliner.   The Journal of Commerce Online

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