Eli Glickman

CEO & President, Zim Integrated Shipping

Search every verified Eli Glickman interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Eli Glickman, CEO and President of Zim Integrated Shipping Services, said during the company’s Q2 2023 earnings call that Zim is in a “transition period” and has been taking proactive steps in response to challenging market conditions. He noted that the company began a fleet renewal program in early 2021, securing 46 newbuild vessels, including 28 LNG-powered container ships, to improve cost structure and commercial resilience. Glickman stated that Zim’s cargo mix is 70% spot exposure and 30% contract, and that for as long as spot rates remain elevated compared to contract rates, this mix benefits the company. He cautioned that recent improvements in spot freight rates, particularly on the trans-Pacific, do not have an immediate financial impact and do not change Zim’s full-year guidance for 2023, which forecasts adjusted EBITDA of $1.2 billion to $1.6 billion and an adjusted EBIT loss of $100 million to $500 million. During the Q3 2022 earnings call, Glickman described the market as entering a “normalization phase” with a steeper-than-expected decline in freight rates due to softening consumer demand and macroeconomic and geopolitical risks, including rising inflation, the energy crisis in Europe, and the war in Ukraine. He said Zim revised its full-year 2022 forecast downward, expecting adjusted EBITDA of $7.4 billion to $7.7 billion and adjusted EBIT of $6.0 billion to $6.3 billion. Glickman emphasized that the company’s strong balance sheet and cash position of $3.2 billion at the end of Q2 2023 allow it to operate from a position of strength, and that returning capital to shareholders remains a priority, with a dividend policy of paying 30% of quarterly net income.