Zim management believes much of the liner industry is loss-making because spot freight rates are unsustainable and will have to improve.

That is why managers of the New York-listed carrier are sticking by their forecast of a return to profitability in the second half of the year.

Speaking to TradeWinds after the Israeli liner operator’s first loss in 11 quarters, Zim president Eli Glickman said no one in the Haifa-based company is panicking.