ZIM to offer end-to-end solution with digital freight forwarding entry
Israeli carrier ZIM announced the launch of Ship4wd, a digital freight forwarding platform to offer end-to-end shipping solutions. Ship4wd will start offering services on October 18 2021.
October 7, 2021: Israeli carrier ZIM announced the launch of Ship4wd, a digital freight forwarding platform to offer end-to-end shipping solutions. Ship4wd will start offering services on October 18 2021.
Ship4wd will offer services to US & Canadian small and medium-sized businesses (SMBs) importing and exporting from China, Vietnam and Israel, the official statement added.
"The Ship4wd platform will offer each customer the optimal solution – either the most economic or the fastest option – according to the customer's preferences. The platform offering consists of both sea and air shipping services up to the final destination, including land & rail transport, with associated logistic services, all backed up by a variety of professional vendors," the release said.
It may be recalled that China International Marine Containers (CIMC), the world's largest manufacturer of containers, has been chartering ships to move containers from China to the west coast of the US.
Shippers, too, are looking at innovative options to tackle the supply chain disruptions. After Walmart, IKEA and Costco, Coca-Cola recently hired three bulk vessels to ship materials to overcome the container crisis as well as port logjams.
Ship4wd, located in Herzliya, one of Israel's main innovative startup hubs, will be helmed by Carmit Hoshen-Glik. "We believe it's time for international shipping to become simple, easy and trustworthy for SMBs. Our promise of unremitting reliability and support from industry professionals will offer a much-needed solution for small businesses and entrepreneurs relying on relatively small shipments for their ongoing business," Hoshen-Glik said.
Eli Glickman, president & CEO, ZIM said Ship4wd will manage the entire logistic chain end-to-end, "harnessing our core assets as a leading global carrier with a unique customer-centric approach to provide the optimal digital solution for the SMB segment, backed up by a wide network of vendors including ZIM."
The New York Stock Exchange-listed ZIM is an asset-light container liner shipping company founded in Israel in 1945. The company reported a record adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), a key financial performance indicator, of $1.34 billion in the second quarter of 2021 (quarter ended June 30, 2021, compared to $145 million in the second quarter of 2020, a year-over-year increase of 820%.
ZIM has significantly increased its full-year (2021) guidance to between $4.8 billion and $5.2 billion of adjusted EBITDA. "Second half 2021 results are expected to exceed first-half results," the company said in its release.
Q2 revenue was $2.38 billion compared to $795 million in the second quarter of 2020, a year-over-year increase of 200 percent. ZIM carried 921,000 TEUs in the second quarter of 2021, a YoY increase of 44 percent. "The average freight rate per TEU in the second quarter of 2021 was $2,341, a YoY increase of 119 percent," the statement added.
ZIM's net cash generation from operating activities was $1.18 billion in Q2FY21 compared to $120 million in Q2FY20.