ZIM Integrated Shipping warns on Turkish ban on Israeli vessels

[Container ship Zim Shekou in an international port in Turkey.]
bfk92/iStock Unreleased via Getty Images

ZIM Integrated Shipping (NYSE:ZIM [https://seekingalpha.com/symbol/ZIM]) disclosed Monday it is developing a mitigation plan to reduce the potential negative impacts of a new rule implemented by Turkey's government barring vessels [https://seekingalpha.com/filing/10337397] that are owned, managed or operated by an entity related to Israel from berthing in Turkish ports.

The company said it received notice of the new rule from Turkish Port Authorities on August 22 and re-routed company-operated vessels that were scheduled to call to Turkish ports.

ZIM (NYSE:ZIM [https://seekingalpha.com/symbol/ZIM]) warned the Turkish ban would negatively affect its financial and operational results if the new regulation remains unchanged, but it reaffirmed recently revised FY 2025 guidance [https://seekingalpha.com/news/4487478-zim-integrated-shipping-slips-after-q2-miss-full-year-profit-upgrade] of adjusted EBITDA of $1.8B-$2.2B and adjusted EBIT of $550M-$950M.

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