SIMIC

ZIM anticipates that customers in the US will be willing to pay more for low-carbon fuels due to pressure to decarbonise supply chains, reports London's Loadstar.
The company is expected to receive its first delivery of 28 LNG-powered vessels, consisting of ten 15,000-TEU vessels and eighteen 7,700-TEU vessels, in the spring, with all arrivals scheduled for completion next year.
These vessels were ordered by Seaspan, a non-vessel operator, and will be on long-term charter to Zim.
"We expect shippers such as Ikea, Home Depot, and Target will see Zim as the first-choice carrier and will pay a premium to use services with LNG ships," said Zim CEO Eli Glickman.
Zim is anticipating a significant drop in earnings before interest, taxes, depreciation and Amortisation (EBITDA) this year to US$2.2 billion, compared to $7.54 billion in 2022, due to the challenging market conditions.
The company plans to remain competitive through diversification, cost-cutting measures, and technological advancements, as well as by implementing port rotations that differ from its larger competitors.
While Q4 income dropped considerably, full-year results were similar to the previous year.
Zim's volumes declined globally, leading to a fall in freight rates, offset by an increase in full-year rates.
The company returned 44 per cent of 2022's income to shareholders.
The addition of 28 LNG-powered vessels, with the first ten of 15,000 TEU and 18 of 7,700 TEU arriving in the spring, will enable Zim to introduce new services, such as TFX from Asia to Australia and ZCX linking west coast South America to the US east coast, which will offer a competitive service for refrigerated cargo.