Zim Posts Positive Q2 Results, But Hapag Merger Faces Regulators' Scrutiny
Israeli container carrier Zim posted solid results for the second quarter this year, turning a small profit on $1.8 billion in income, but its share price fell by four percent in early trading - perhaps because of the announcement that Brazil's competition regulators would thoroughly review its proposed merger with Hapag-Lloyd. The quarterly results are an improvement: revenue was up nine percent year-over-year, driven by strengthening volumes in the Asian and transpacific markets. Average freight rates also strengthened, increasing earnings...
Continue Reading...
Loading More news