Hapag-Lloyd has provided new details on its revised proposal to acquire ZIM, outlining measures designed to address concerns raised by the Israeli government over maritime security and independence.
CEO Rolf Habben Jansen said the improved proposal would give Israel greater maritime independence by expanding ZIM Israel’s shipping capabilities, strengthening protections around sensitive cargo and providing the company with a new modern fleet.
Hapag-Lloyd–ZIM: What is really at stake in the $4.2 billion deal
The update comes as Hapag-Lloyd and its partner FIMI continue discussions with Israeli authorities over the proposed acquisition.
Revised proposal adds Asia route and new fleet
Under the revised proposal, ZIM Israel would gain access to an additional shipping route connecting Israel with Asia. Hapag-Lloyd and FIMI also plan to invest in Israeli maritime personnel and retain shipping expertise within the country.
Habben Jansen said the proposal would provide ZIM Israel with a new modern fleet, although Hapag-Lloyd did not provide further details on the number or size of the vessels in this update.
The revised structure would also strengthen protections provided under Israel’s Golden Share framework. According to Habben Jansen, the agreement would prevent foreign interference in the transportation of sensitive Israeli cargo.
“The substantially improved proposal gives Israel materially more maritime independence and addresses all its national security needs,” he said.
Talks with Israeli authorities intensify
Hapag-Lloyd entered into a binding merger agreement with ZIM in February, and the transaction has since received shareholder approval. Regulatory approvals are still required before the deal can be completed.
Habben Jansen said discussions with the relevant authorities have become significantly more intensive, with the process now moving into direct dialogue.
“We remain convinced that the concept is sound,” he said. “If adjustments are needed to address concerns raised in the process, we will have to make them.”
Hapag-Lloyd expects up to $500 million in synergies
Hapag-Lloyd also reiterated the commercial rationale behind the transaction, pointing to ZIM’s fleet, workforce and customer base.
The German carrier expects the combination to generate annual synergies of between US$300 million and US$500 million.
According to Hapag-Lloyd, the combined business would operate more than 400 vessels with over 3 million TEU of capacity and annual transport volumes exceeding 18 million TEU.
The transaction would also reinforce Hapag-Lloyd’s position as the world’s fifth-largest container shipping company, according to the carrier.
