Fearnley Securities believes the days of big shareholder payouts are over for Israeli line Zim.

The container ship owner has lowered its full-year earnings guidance as the market continues to normalise.

The New York-listed company expects to make $400m to $500m less profit than earlier projected.

Fearnley Securities analyst Oystein Vaagen said Zim’s “dividend party” is over, downgrading the stock from “buy” to “sell.”