NYSE-listed Israeli carrier ZIM reported a 20 percent decline in net income at $1.2 billion for Q32022 compared to $1.5 billion in Q32021 on lower volume.
While average freight rate was up 3 percent to $3,353/TEU, carried volume declined to 842,000 TEUs, down 5 percent, according to an official release.
Revenue was up 3 percent at $3.2 billion and EBITDA margin dropped to 60 percent from 66 percent in Q32021.
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