Israeli liner operator Zim halved losses in the first quarter of the year.

Net losses were $11.9m in the three months to 31 March, compared with a loss of $24.3m in the same period 2019, the company said.

Revenue rose 3.4% to $823m over the period, compared with $796m in 2019.

Zim president and chief executive Eli Glickman hailed the results as "a significant improvement in performance, compared to the same period in 2019".