ZIM Integrated Shipping Services returned to substantially stronger profitability during the second quarter of 2026 as higher freight rates and increased carried volume lifted revenue, although weaker first-quarter results left the shipping company with a net loss for the first half.
Second-quarter net income reached $64 million, up approximately 167% from $24 million in the prior-year period.
Adjusted net income increased to $77 million from $24 million, while adjusted EBITDA rose 4% to $491 million. Revenue increased 9% to $1.78 billion.
ZIM carried 922,000 TEUs during the quarter, up 3% from 895,000 TEUs.
The average freight rate increased approximately 8% to $1,590 per TEU from $1,479, providing an important tailwind to revenue despite the relatively modest volume increase.
The stronger second-quarter performance, however, was not enough to erase weakness from earlier in the year.
For the first six months of 2026, ZIM reported a net loss of $22 million compared with net income of $320 million in the first half of 2025.
First-half revenue declined to $3.18 billion from $3.64 billion, while average freight rates fell to $1,455 per TEU from $1,632. Carried volume declined to 1.788 million TEUs from 1.839 million.
Adjusted EBITDA for the first half fell to $804 million from $1.25 billion, and adjusted EBIT declined to $164 million from $612 million.
The second quarter nevertheless generated significant cash. ZIM produced $386 million of free cash flow and reduced net debt to $2.77 billion from $2.93 billion at the end of the first quarter. Its net cash position, excluding lease liabilities, stood at $2.46 billion.
The company expects stronger performance during the remainder of 2026 and maintained full-year guidance for adjusted EBITDA of $2 billion to $2.4 billion and adjusted EBIT of $700 million to $1.1 billion.
KEY QUOTES:
“We remain committed to preserving the agility that allows us to respond quickly to changing market conditions, strengthening our competitiveness, and creating sustainable value.”
Chen Lichtenstein, President and CEO of ZIM
