ZIM
ZIM Integrated Shipping Services
Is ZIM Halal?
Container shipping is generally permissible, but the latest filing fails the debt screen and the proposed Hapag-Lloyd transaction is still a review trigger.
What You Should Know
ZIM's March 31, 2026 Form 6-K reports $10,577.7 million of assets, $5,478.3 million of tracked interest-bearing debt including leases, $921.6 million of cash, $1,525.7 million of sovereign and corporate bonds, $842.5 million of receivables and $1,396.5 million of operating revenue. Debt/assets is 51.79%, liquidity/assets is 23.14% and receivables-plus-cash/assets is 16.68%; the debt screen fails even though container shipping is generally permissible. The filing also reports $32.3 million of finance income used as a conservative upper bound, or 2.31% of revenue.
⚠️ Concerns
- •Debt/assets of 51.79% exceeds the examined limits
- •Highly cyclical freight rates and charter commitments
- •Proposed Hapag-Lloyd transaction requires monitoring
- •Cargo and customer mix is not fully disclosed
- •No fixed purification percentage is asserted
Current quantitative Sharia screen
Based on 6-K figures for the period ended 2026-03-31; calculated 2026-07-15.
5,478.3 / 10,577.7
2,447.3 / 10,577.7
1,764.1 / 10,577.7
32.3 / 1,396.5
- Financial
- Fails
- Overall
- Fails
Debt/assets is 51.79%, above the examined 33.333% limit; liquidity/assets is 23.14%, receivables-plus-cash/assets is 16.68% and income is 2.31% of revenue.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 51.79%, above the examined MSCI limit; liquidity and receivables-plus-cash remain below their examined limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 51.79%, above the examined Malaysia limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed and reproducible historical market-cap series is not stored; filing-based asset ratios are documented.
Business-activity disclosure
ZIM operates container shipping and maritime logistics, a generally permissible transport activity. Product-level or contract-level prohibited revenue is not separately quantified in the filing.
Limitation: The filing does not provide a universal prohibited-revenue numerator for all customers, cargo and related services.
Purification
Finance income is disclosed, but no scholar-approved purification percentage or complete prohibited-revenue numerator is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from ZIM's March 31, 2026 Form 6-K.
- Interest-bearing debt includes current and non-current lease liabilities plus loans and other liabilities; this is conservative for an asset-based screen.
- Interest-bearing securities are the disclosed sovereign and corporate bonds ($1,525.7 million); equity and other investments are excluded.
- Accounts receivable combines current trade and other receivables of $720.9 million with non-current other receivables of $121.6 million.
- Operating revenue is $1,396.5 million; finance income of $32.3 million is used as a conservative upper-bound income numerator because it includes items beyond interest.
- Container shipping is generally permissible, but the proposed Hapag-Lloyd transaction and leverage require continuing qualitative review.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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