HAIFA, Israel, March 9, 2026, 17:04 IST 1
- Fourth-quarter net income fell to $38 million from $563 million a year earlier, while revenue dropped 32% to $1.48 billion. 2
- Average freight rate per TEU fell 29% to $1,333 and carried volume slipped 9% to 898,000 TEUs. 2
- ZIM declared a $0.88-a-share dividend but gave no 2026 guidance because of its pending sale to Hapag-Lloyd. 2
ZIM Integrated Shipping Services said on Monday fourth-quarter net income fell to $38 million from $563 million a year earlier, as freight rates and carried volume weakened, while revenue slid 32% to $1.48 billion. Full-year revenue dropped 18% to $6.90 billion and net income fell to $481 million from $2.15 billion; the company declared a $0.88-a-share dividend but withheld 2026 guidance because of its pending sale to Hapag-Lloyd. 2
The report is ZIM’s first scheduled update since Hapag-Lloyd agreed last month to buy the Israeli carrier for $35 per share in cash, a deal worth about $4.2 billion. With management canceling the usual conference call and withholding 2026 targets, investors are left with a last full-year look at ZIM on a stand-alone basis before the approval process takes over. 3
Shares were up 51 cents, or about 1.8%, in New York trading at $28.32, still well below the offer price, suggesting some investors still see closing risk. The transaction is targeted to close by late 2026, subject to shareholder, regulatory and Israeli government approval. 3
Adjusted EBITDA, a measure of operating profit before interest, tax, depreciation and some special items, fell 66% to $327 million. ZIM carried 898,000 TEUs, the standard measure for a 20-foot container, in the quarter, down 9%, while the average freight rate — the price charged per container — slipped 29% to $1,333 per TEU. 2
Chief Executive Eli Glickman said ZIM delivered results at the “upper end of our guidance.” He said the latest payout lifts dividends declared on 2025 earnings to $240 million, or $1.99 per share, while special dividends are restricted under the merger agreement. 2
Glickman also said ZIM expected “continued pressure on freight rates” in 2026. That warning fits the quarter: the company said the revenue drop was driven mainly by weaker rates as well as lower carried volume. 2
Hapag-Lloyd said in February the purchase would make the combined group the world’s fifth-largest container shipping company, with more than 400 vessels and annual transport volume above 18 million TEUs. Part of ZIM’s Israel-linked business is set to be carved out into a FIMI-backed company called New ZIM, which would hold the state’s golden share, or special ownership right. 4
Hapag-Lloyd CEO Rolf Habben Jansen called ZIM an “excellent partner” and said customers would get a stronger network across the Transpacific, Intra-Asia, Atlantic, Latin America and East Mediterranean. Until closing, both companies say they will keep running separately. 4
But the deal still has rough water ahead. Workers at ZIM struck in Israel after the takeover was announced over job security fears, and the transaction still needs approvals tied to the special state share and other regulators. 5
For now, Monday’s figures showed a carrier that remains profitable but is operating well below last year’s pace, with softer freight markets already squeezing margins as a takeover reshapes the investor script. 2
