Israeli container line Zim has reduced its first quarter loss as rates rose.
The company said the net deficit was $24.3m, compared to $34.1m the year before.
Revenue grew 6% to $796.2m year-on-year, but its ships carried 4.3% less cargo at 668,000 teu.
The average freight rate per teu rose to $1,019 compared to $938 in 2018, however.
Adjusted EBITDA stood at $69.3m
