International shipping giant Hapag-Lloyd (ETR: HLAG) has made an offer for Zim Integrated Shipping Services (NYSE: ZIM). As far as is known, the bid is in the initial stages and negotiations have yet to begin between the sides. It is believed that other offers have been made for ZIM in the past few days. ZIM’s response was "No comment."
Hapag-Lloyd holds 7.4% of the global container shipping market, putting it in fifth place worldwide. ZIM is ranked ninth in the world, with a 2.5% market share. "Globes" has learned that the two biggest shipping players, MSC, with a 20.2% market share, and Maersk, with a 14.3% share, have also expressed interest in buying the Israeli company, which has a market cap of $2.4 billion.
The interest comes after Eli Glickman, ZIM’s CEO since 2017, submitted an offer to buy the company together with shipping magnate Rami Ungar, and the ZIM board deiced to examine other possibilities. The opportunity arises following the sale by former controlling shareholder Kenon Holdings, itself controlled by Idan Ofer, of its stake in ZIM.
ZIM’s workers committee has expressed fierce opposition to Hapag-Lloyd’s move, which is an interesting one by the German company. Among the main shareholders in Hapag-Lloyd are Qatar Holding LLC (12.3%), an arm of the Qatar Investment Authority, and Saudi Arabia’s sovereign wealth fund PIF (10.2%).
"An acquisition of ZIM by Hapag-Lloyd, which is controlled by Qatar and Saudi Arabia, represents a direct danger to the security of the country," ZIM workers committee chairperson Oren Ksafim told "Globes." "In the Sword of Iron war, when Maersk, MSC, and all the foreign shipping companies abandoned Israel, only ZIM continued to bring food, medicines, and ammunition. ZIM saved the country.
"98% of Israel’s trade goes by sea. If ZIM is in Qatari-Saudi hands, in the next war we shall be cut off by sea. We do not have an open land border. The sea is our vital artery. The state holds a golden share that enables it to block the deal. We call on the minister of transport and the government to invoke it immediately and prevent the sale. This is not just another financial deal; this is a question of whether we will have supplies in the next war."
’The Wall Street Journal" views ZIM’s share price as high. It closed yesterday at $19.87, and analysts estimate that it should fall to around $14.30. Of seven analysts who cover ZIM, one gives it a "Buy" rating, three recommend "Hold", and three recommend selling the stock. Their general stance is, however, less negative than it was three months ago.
Published by Globes, Israel business news - en.globes.co.il - on December 4, 2025.
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