ZIM Workers to Protest Sale of Shipping Giant Amid National Security Concerns

Hundreds of employees from the Israeli shipping and maritime logistics company ZIM are planning a protest on Tuesday in Tel Aviv. The demonstration, organized in conjunction with the ZIM Workers' Committee and the Histadrut labor federation, aims to voice opposition to the planned sale of the company to Germany's Hapag-Lloyd and Israel's FIMI Fund. Workers are concerned about their employment future and the potential impact on ZIM's status as an Israeli company.

The sale would involve Hapag-Lloyd and FIMI acquiring 100% of ZIM's shares, leading to its delisting from the New York Stock Exchange, where it has been traded since early 2021. While the exact sale price has not been disclosed, it is reportedly above $3.5 billion, exceeding ZIM's current market valuation of $2.7 billion. The protest highlights the ongoing uncertainty surrounding the deal and fears of job losses and diminished job security.

Labor leaders emphasized that any future arrangement must include employee representation and guarantee their rights, warning against decisions made without consulting the workers. Protesters plan to carry signs criticizing FIMI Fund executives Yishai Davidi and Gilon Beck. Beyond employment issues, the workers aim to draw attention to the broader implications of transferring control of a company considered a strategic asset for Israel.

"We will not allow dedicated employees, who built the company over the years and sustained it through the most complex periods, to pay the price for this deal," stated Adv. Eyal Yadin, Chairman of the Transportation Workers Union in the Histadrut. He added that the Histadrut would support the workers with all available means to prevent actions that harm their livelihoods, job security, or Israel's national interests.

Oren Kaspi, Chairman of the ZIM Workers' Committee, echoed these concerns, emphasizing ZIM's critical role in Israel's economy and national security, particularly during wartime. He expressed apprehension about the potential for Qatari entities to gain influence through the German company, which is partly Qatari-owned. "We are here to make it clear: this deal must be taken off the agenda once and for all. You don't play with the country's security," Kaspi declared.

Governmental opposition to the sale surfaced in July due to concerns over foreign control, specifically the Qatari ownership stake in Hapag-Lloyd. Almog Cohen had previously labeled the deal a "strategic danger." The Prime Minister stated the matter was not on the agenda, and Defense Minister Israel Katz affirmed that Israel possesses a golden share in ZIM and would exercise its authority if necessary.