Hapag-Lloyd (HPL) has signed a merger agreement with ZIM, setting the stage for further consolidation of the global ocean freight market. The existing special state “Golden Share” of ZIM will be transferred to a new dedicated Israeli container line owned by FIMI Opportunity Funds (FIMI), an Israeli private equity firm. The deal, estimated at over $3.5 billion, includes this FIMI carveout for the State of Israel to maintain strategic control of domestic operations and ZIM’s owned fleet, while HPL takes over international operations and ZIM’s chartered fleet. The announcement noted that regulatory and shareholder approval is expected by late 2026, and business will continue as usual until the deal is officially closed.
The acquisition will bolster HPL’s position in the top five global ocean freight carriers and will continue a trend of significant consolidation of the industry over the last twenty years. Carriers are increasingly focused on leveraging scale to increase market share and profitability, resulting in fewer options for shippers in the global freight market.
The Trump administration announced a framework for achieving the goal of reinvigorating the US maritime sector, known as America’s Maritime Action Plan. The plan includes fees on foreign-built vessels calling the US, similar to the USTR 301 China vessel fees proposed in 2025. Those fees are currently on hold until late 2026. The plan also includes a new port tax, the Land Port Maintenance Tax, which appears to mirror the Harbor Maintenance Tax at a proposed 0.125% of the value of the goods.
Freight markets are holding steady while much of Asia is celebrating the Lunar New Year holiday. Carriers have announced a raft of blank sailings for the traditional slack season as volumes are expected to remain on the softer side. Contract negotiations are underway for the largest shippers, who typically finalize deals first, followed by mid-size and smaller shippers, and the NVOCC community. Rates are likely to settle slightly lower than 2025-26 contract levels.
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Rachel Shames
VP, Pricing & Procurement
CV International, Inc.