ZIM net income jumps 170% in Q2 as revenues reach $1.8 billion

ZIM Integrated Shipping Services reported a sharp improvement in second-quarter profitability, supported by higher freight rates and increased container volumes.

The Israeli carrier recorded net income of $64 million in the second quarter of 2026, up 170% from $24 million in the same period last year.

Revenue increased 9% year on year to $1.78 billion, compared with $1.64 billion in Q2 2025.

Container volumes rise to 922,000 TEUs

ZIM carried 922,000 TEUs during the quarter, representing a 3% increase from 895,000 TEUs a year earlier.

The average freight rate increased 8% to $1,590 per TEU, from $1,479 per TEU in Q2 2025. ZIM said higher freight rates and carried volumes were the main drivers behind the revenue increase.

Adjusted EBITDA reached $491 million, up 4% from $472 million a year earlier. Adjusted EBIT increased to $169 million from $149 million.

The adjusted EBITDA margin stood at 28%, compared with 29% in the corresponding quarter of 2025.

Meanwhile, ZIM generated $386 million in free cash flow during the quarter.

Net debt stood at $2.77 billion at the end of June, while the company’s net leverage ratio was 1.6x.

Transpacific volumes strengthen

ZIM highlighted its position in the Transpacific trade as an important contributor to its second-quarter performance.

Pacific volumes increased to 426,000 TEUs in Q2 2026 from 354,000 TEUs a year earlier.

Intra-Asia volumes also increased, reaching 212,000 TEUs from 199,000 TEUs.

However, volumes declined on the Cross-Suez, Atlantic and Latin America trades.

“Since assuming my role in July, my focus has been clear: to capitalize fully on current market opportunities while deploying the Company’s resources with discipline and efficiency,” said Chen Lichtenstein, President and CEO of ZIM.

First-half performance remains weaker

Despite the stronger second quarter, ZIM’s first-half results remained below last year’s levels.

Revenue for the first six months of 2026 declined to $3.18 billion, from $3.64 billion in the same period of 2025.

The carrier transported 1.788 million TEUs, compared with 1.839 million TEUs a year earlier. Its average freight rate fell to $1,455 per TEU from $1,632.

ZIM reported a first-half net loss of $22 million, compared with net income of $320 million in H1 2025. Adjusted net income remained positive at $4 million.

ZIM maintains 2026 guidance

ZIM expects a stronger performance during the remainder of the year.

The carrier maintained its full-year guidance for adjusted EBITDA of $2.0 billion to $2.4 billion and adjusted EBIT of $700 million to $1.1 billion.

Chief Financial Officer Sami Jubran said the expected improvement could allow ZIM’s board to consider declaring a dividend based on third-quarter results.

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