ZIM

Barclays analyst Alexia Dogani said in a research report that the rating of ZIM Integrated Shipping Services (NYSE:ZIM) was downgraded from “flat with the broader market” to “underweight”, and the target price was lowered from $26.50 to $15, and global shipping is expected to have a downward cycle in 2023-24. The analyst said it believes the container shipping industry will enter a period of “severe oversupply” in 2023-24, with capacity capacity expected to grow at an annual rate of 10 per cent, while market demand will remain at -3 per cent compared to 2019.