Hapag-Lloyd’s planned takeover of ZIM has hit another regulatory obstacle, with Brazilian competition authorities launching a deeper review of the transaction.
Brazil’s Administrative Council for Economic Defense is examining the deal because the two carriers have overlapping operations on three major routes: West Coast South America–East Coast South America, Central America and the Caribbean–East Coast South America, and North America–East Coast South America.
The review could extend the approval process until March 2027, potentially complicating Hapag-Lloyd’s objective of completing the acquisition before the end of this year.
Regulatory scrutiny intensifies
The Brazilian investigation comes as Hapag-Lloyd works with competition authorities in several markets to secure the approvals required to complete the transaction.
The company had previously indicated that it remained confident about closing the deal by the end of 2026. Chief executive Rolf Habben Jansen said during the carrier’s second-quarter results that he had no reason to expect the transaction would not be completed within that timeframe.
However, the Brazilian review introduces additional uncertainty, particularly because the investigation is focused on routes where the combined companies could hold significant market positions.
Hapag-Lloyd said it was cooperating with regulators but declined to comment specifically on the individual antitrust proceedings.
“We are currently working with the various regulatory bodies to obtain the necessary approvals,” the company said, reaffirming its focus on completing the transaction toward the end of 2026.
South American trade lanes at the centre
The three routes under examination are important links connecting South American markets with Central America, the Caribbean and North America.
Brazilian authorities will assess whether combining the operations of Hapag-Lloyd and ZIM could affect competition, potentially requiring commitments or other measures before approval is granted.
The outcome could therefore influence not only the timing of the acquisition but also how the combined carrier operates on the affected routes.
For Hapag-Lloyd, the ZIM acquisition remains a major strategic move to strengthen its global shipping network. But with regulatory reviews still underway, the path to completing the deal is becoming more complicated and the end-of-2026 target is no longer entirely within the carrier’s control.
