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Zim books profit for fourth quarter despite drop in revenue and volumes

Container shipping line Zim, which collaborates with Maersk and MSC in the 2M alliance, books a profit for the fourth quarter despite a decline on the bottom line. 2020 looks uncertain due to trade restrictions and coronavirus.

Photo: Zim

Israeli container shipping company Zim turned a deficit into a profit in the fourth quarter despite declines in both revenue and volumes.

Overall, 2019 was a tough year for the container industry, assesses CEO Eli Glickman. Besides an escalated trade war between the US and China, the industry also spent the year preparing for the new sulfur regulations that came into force on Jan. 1 this year.

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