ZIM Integrated Shipping Services has raised the midpoint of both its 2026 adjusted EBITDA and adjusted EBIT forecasts by US$650 million, as strong container demand and higher freight rates keep lifting liner earnings across the board.

The Israeli carrier now expects adjusted EBITDA of US$2.7 billion to US$3.0 billion for 2026, up from the US$2.0 billion to US$2.4 billion range guided previously. The upgrade is steeper at the operating level: adjusted EBIT guidance jumped to US$1.4 billion to US$1.7 billion, from US$700 million to US$1.1 billion.

"The midpoint of the updated full year 2026 guidance represents an increase of 30% in Adjusted EBITDA and 72% in Adjusted EBIT compared with previous guidance provided on August 19, 2026," ZIM said in its statement.

How does ZIM's upgrade compare with its peers?

ZIM's move follows a string of stronger forecasts from the major liner operators. Hapag-Lloyd raised its 2026 EBITDA guidance to US$3.9 billion to US$4.4 billion, from US$2.7 billion to US$3.7 billion. Ocean Network Express tripled its full-year net profit forecast to around US$900 million, from US$300 million. Maersk lifted underlying EBITDA guidance to US$10.5 billion to US$12.5 billion, from US$8 billion to US$10 billion.

For shippers and forwarders, the synchronised upgrades across the top carriers signal that elevated freight rates are holding longer than many BCOs had budgeted for. For carriers, the windfall strengthens balance sheets mid-negotiation — a point that matters directly for ZIM, whose shares are the subject of a contested acquisition.

What is happening with the Hapag-Lloyd takeover?

The earnings upgrade lands with all eyes on Hapag-Lloyd's proposed acquisition of ZIM, a deal that has faced a lengthy regulatory process in Israel.

On September 24, Hapag-Lloyd and its Israeli partner FIMI Opportunity Funds submitted the key points of what they described as a "substantially improved proposal" to the Israeli government. The proposal responds to concerns raised during discussions with the Israeli authorities, including Israel's security apparatus. Hapag-Lloyd said the improvements were intended to strengthen the country's maritime independence, national security and supply-chain resilience.

The two partners will spend the following 45 days finalising the business plan and legal framework, holding meetings with Israeli authorities and government ministries to present the proposed changes.

At the centre of the new offer sits a plan to establish ZIM Israel as a fully independent, Israeli-owned and managed shipping company, with its own fleet and maritime expertise. The proposal includes:

• A core container fleet owned by ZIM Israel
• Access to Hapag-Lloyd's global container fleet through a long-term commercial agreement
• A direct Asia service
• Stronger protections under the state's golden share, giving Israel greater control over future ownership changes and safeguards against foreign interference

The plan would transfer to ZIM Israel the teams responsible for cargo moving to and from Israel, as well as ZIM's existing ship-management capabilities. It also commits to increasing the number of Israeli seafarers, maintaining an Israeli-based ship-management operation and increasing capacity for refrigerated and other essential cargoes.

ZIM Israel would operate its own IT system without access by third parties, including Hapag-Lloyd. The proposal adds financial arrangements for ZIM employees in Israel and a 10-year safety net for long-serving staff.

Hapag-Lloyd CEO Rolf Habben Jansen said the companies had listened carefully to the Israeli government and made substantial improvements to the proposal.

"All details of this proposal will be further specified and explained to the State of Israel over the next 45 days. We encourage the relevant authorities to review the improved proposal and welcome the opportunity to continue the dialogue and discuss the changes that have been made," a Hapag-Lloyd spokesperson said in a statement. "At the same time, we are working on further significant enhancements to the proposal, including broader powers for the State under an updated Golden Share framework and a stronger ZIM Israel-owned fleet comprising newer, larger and more efficient container vessels."

When could the deal close?

The transaction had initially been expected to close by the end of 2026. The additional regulatory process and the revised proposal make a 2027 completion increasingly likely — meaning the fate of one of the industry's largest consolidations now runs on an Israeli government clock even as ZIM's earnings power hits multi-year highs.