Revenue was $3.4bn, against $3.7bn in 2013.

The fourth quarter net loss was $4m, from $20m, while revenue amounted to $813m, down from $888m the year before.

Zim’s average freight rate per teu for the year was $1,243, compared with $1,219 in 2013.

Rates rose 8% in the final three months.

It posted EBIDTA of $116m for the year, up $118m from 2013.

Zim has been focusing on profitable lines and organisational changes, while expanding the scope of cooperation with other shipping companies.

It was also helped by a reduction in fuel prices towards the end of the year.

CEO