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Zim ended 2Q with a loss of $42ml

Zim ended 2Q with a loss of $42ml
Total income in the second quarter was $1.17 billion, compared to $906 million in the corresponding quarter in 2007, an increase of 29 percent.

Zim ended 2Q with a loss of $42 million

Total income in the second quarter was $1.17 billion, compared to $906 million in the corresponding quarter in 2007, an increase of 29%.

Israel Corporation published its last quarter financial report last week showing a net profit of $64 million, 5.3 times higher than in the corresponding quarter in 2007. Revenue for the quarter rose more than threefold to $5.8 billion.

The main contribution to Israel Corporation's results came from Israel Chemicals, which recorded a profit of $703 million for the quarter.

Israel Corporation's shipping subsidiary, Zim Integrated Shipping Services Ltd., ended the quarter with a loss of $42 million, compared with a profit of $10 million in the corresponding quarter last year.

Total income in the second quarter was $1.17 billion, compared to $906 million in the corresponding quarter in 2007, an increase of 29%.

The increase in revenue is attributed to larger quantities of containers moved, increase in freight rates and increase in revenues ob Zim's subsidiaries. During the second quarter the company moved TEU 663,000 compared to TEU 581,000 in the corresponding quarter in 2007.

During the first six months of 2008 the company moved TEU 1,277,000 compared to TEU 1,138,000 in the corresponding period last year.

www.TurkishMaritime.Com.tr

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