Hapag-Lloyd has made a formal offer to acquire Israeli shipping company ZIM Integrated Shipping Services, as reported by the Israeli newspaper Globes.

The bid follows a series of previous takeover attempts for ZIM, including one led by ZIM’s CEO Eli Glickman and shipping entrepreneur Rami Ungar, which was rejected by ZIM’s board. This prompted the company to begin a strategic review of its future options.

As news of Hapag-Lloyd’s interest spread, ZIM’s shares saw a 4-5 percent rise, reflecting optimism in the market regarding potential consolidation in the container shipping industry.

ZIM remains one of the largest global container carriers, ranking ninth by market share, but it has faced challenges in recent years. The company’s board has stated that while it has received several offers, there is no certainty that a deal will be reached, and it will provide updates only when necessary.

The move by Hapag-Lloyd is seen as part of a broader industry trend toward consolidation, with other major players such as MSC and Maersk also reported to be eyeing potential acquisitions in the sector.