How does ZIM make sense?

I understand this is a shipping company and revenue/earnings has skyrocketed due to increased shipping costs.

But, they have a ~3x P/E, pay a 14%+ dividend, and have done amazing despite the recent market sell-off.

Is the market just waiting for some signal that shipping rates are coming down, thereby increasing their future P/E? Or will this company prove their increased revenue/earnings isn't temporary, and the market will reprice them to a higher P/E?

Any insights would be greatly appreciated on this one!


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