Zim Integrated Shipping Lines has sharply lowered its full-year earnings guidance as the container market continues to normalise.

The New York Stock Exchange-listed company expects earnings this year to be $400m to $500m lower than earlier projected.

Revised guidance adjusted Ebitda for 2022 is $7.4bn to $7.7bn, which is down from $7.8bn and $8.2bn.

Adjusted Ebit is this year revised to $6bn to $6.4bn,