Zim Integrated Shipping Services confirmed it is reviewing buyout proposals from several parties, including CEO Eli Glickman and Rami Ungar of Ray Shipping, reported London's S&P Global.

The board said it has received indications of interest from multiple parties, including strategic bidders from within the industry. It added that all offers are being evaluated carefully.

As part of the review, Zim appointed two new board members, Yair Avidan, a former bank executive, and Yoram Turbowicz, a former Israeli government official. The company also hired Evercore as financial advisor and legal firms Meitar and Skadden, Arps.

Zim cautioned there is no assurance a deal will be reached and promised to provide updates once the strategic review is complete.

Glickman's proposal first appeared in Israeli media in August, reportedly offering about US$20 per share, valuing Zim at $2.4 billion. The carrier's market value fell to $1.5 billion in October amid weak freight rates. As of March 2025, Mr Glickman held about one per cent of Zim.

Zim reported a 90 per cent year-on-year drop in third-quarter net income last week but beat analysts' estimates and reaffirmed its 2025 profit forecast. Shares have risen 14 per cent since the earnings release.

The carrier went public in January 2021, raising $217.5 million for an initial valuation of $1.3 billion. At the peak of the shipping surge in March 2022, Zim's market value reached $8.6 billion. It has relied on short-term chartering of panamax ships, while also contracting newbuilds and long-term charters of postpanamax vessels. It currently has a slot charter agreement with Mediterranean Shipping Co for transpacific services.