Israeli liner operator Zim has logged the largest loss of the container shipping downturn and expects operating losses of up to $600m this year.
The New York-listed, Haifa-based company unveiled a massive net loss for the third quarter of $2.27bn, due primarily to a non-cash impairment loss of $2bn.
The company has also downgraded its full-year guidance and expects an adjusted Ebit loss of $600m to $400m this year.
