Israeli line Zim made a dramatic turnaround in the first quarter swinging to a profit of US$3 million compared with a loss of $186 million a year earlier, reported Reuters.

       Israel Corp, the parent firm, last November approved a debt restructuring plan for Zim, which was hit by the slowdown in global trade.

       Zim's results were affected both by improved conditions in the market as well as by efficiency measures and improvements in the organisational structure that Zim has made,Israel Corp said.