ZIM downgrades financial forecast owing to weak freight rates
ZIM has updated its forecast for 2023 and now expects to make an adjusted EBIT loss of US$100-500m, compared to an initial prediction of a positive EBIT between US$100-500m.
The Israeli company also expects to generate an adjusted EBITDA of US$1.2-1.6bn, having originally predicted an adjusted EBITDA a figure between US$1.8-2.2bn.
The full-year update is guided by continued weakness in freight rates across all the company’s trades, particularly in the trans-Pacific, which is expected to carry on for the remainder of 2023.
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