Discussions around a possible sale of Zim are facing increasing opposition, particularly regarding the option of acquisition by Hapag-Lloyd. Worker representatives cite the strategic importance of Zim for the country’s trade and highlight the involvement of foreign investors among Hapag-Lloyd’s shareholders.

The process is further complicated by a special state share issued by the Israeli government in 2004 during the company’s privatization. Under its conditions:

- any buyer seeking to acquire more than 24% of shares must notify the Israeli authorities;

- acquiring over 35% requires formal approval from Israel;

- the company must remain registered in Israel;

- a majority of board members — including the chairperson and the CEO — must be Israeli citizens;

Zim must maintain a fleet of at least 11 vessels, with at least three of them being cargo ships, although the company currently has permission to operate a smaller fleet; any liquidation, merger or corporate restructuring requires written approval from the Israeli government, unless the special share remains active.

For reference, the major shareholders of Hapag-Lloyd include private and state-affiliated investors from Germany, Chile, Qatar and Saudi Arabia.