Idan Ofer's Eastern Pacific Shipping is a 300-vessel Singapore fleet structurally separate from ZIM, which he also controls. EPS vessels have been directly targeted by Houthi attacks despite flying non-Israeli flags.
Eastern Pacific Shipping, based in Singapore, operates a substantial fleet of tankers, bulk carriers, gas carriers, and container ships, controlled by billionaire Idan Ofer. With approximately 300 vessels and 31 million deadweight tonnes, it stands as one of the world's largest privately owned shipping operations. Unlike ZIM Integrated Shipping Services, which faces a potential acquisition by Hapag-Lloyd, Eastern Pacific Shipping operates independently and without Israeli flagging, maintaining its separate identity within Ofer's business empire.
What is Eastern Pacific Shipping?
Eastern Pacific Shipping, also known as EPS, is a Singapore-headquartered company with six decades of operational history. Idan Ofer directs EPS through his Quantum Pacific Group holding structure, according to Grokipedia's company history. EPS and ZIM are structurally separate entities; Ofer controls ZIM's largest stake via Kenon Holdings, while EPS falls under a different arm of the Quantum Pacific empire, as stated in ZIM's corporate materials.
This separation is crucial given ZIM's uncertain ownership future. If Israeli regulators block the Hapag-Lloyd acquisition of ZIM, as detailed in Olam's coverage of that transaction, EPS would remain unaffected. EPS was never part of the ZIM sale and holds no "golden-share" obligation to the Israeli state. The EPS fleet consists of Singapore- and Liberia-flagged vessels, not Israeli-flagged ones, according to a 2021 tanker-fleet overview archived on Scribd.
How large is Idan Ofer's shipping fleet?
The EPS fleet manages approximately 31 million deadweight tonnes across four primary segments: containerships, dry bulk carriers, gas carriers, and tanker vessels. The company employs 7,000 sea and shore staff, according to its corporate materials. Fleet expansion significantly accelerated from 2017 when Ofer re-entered the sector to capitalize on growing interest in low-emission shipping technology.
This growth culminated in the world's largest privately owned fleet, reaching around 300 vessels by 2024. The broader Quantum Pacific group, including affiliates, approaches 400 ships, Grokipedia reports. Approximately 70% of the EPS fleet operates under long-term charter coverage, rather than spot-market deployment, according to the same source.
A separate commercial database, MagicPort, recorded EPS as owning and managing 113 vessels totaling just over 12 million deadweight tonnes as of August 2026. This total included tankers (44.25%), containerships (23.01%), gas carriers (16.81%), and bulk carriers (15.04%). This narrower figure likely represents directly owned tonnage, in contrast to the full chartered and managed fleet described by Grokipedia.
What has EPS been buying and selling?
Idan Ofer committed over $1 billion to a newbuilding program in August 2025, ordering up to 14 midsize container vessels from Chinese shipyards, according to Grokipedia. The following month, EPS Ventures announced a $520 million acquisition of Cool Company, a Norway-listed LNG carrier operator. This transaction occurred via a cash tender offer of $9.65 per share.
EPS has also conducted selective divestments. The company fully exited the chemical tanker segment in mid-2026, selling its entire 14-vessel chemical fleet, including three newbuilds, in a combined en-bloc transaction. Seven of these vessels went to Ace Tankers, Maritime Executive reported. Separately, commodities trader Mercuria Energy Group purchased a 2011-built capesize bulk carrier from EPS, roughly 180,000-deadweight-tonne, for approximately $38 million, according to Handybulk. Mercuria made this purchase to expand its own owned dry-bulk capacity.
Has EPS been targeted in the Red Sea conflict?
Yes, vessels linked to Idan Ofer and Eastern Pacific Shipping have been targeted in the Red Sea conflict. A tanker associated with Idan Ofer was struck by a Houthi drone in the Red Sea, based on reporting referenced in Grokipedia's company history. Zodiac Maritime and Eastern Pacific Shipping vessels were separately advised to avoid Red Sea transits as Houthi attacks persisted. Houthi targeting later shifted north, striking an Eastern Pacific tanker further along the Red Sea corridor, according to the same sourcing.
This targeting pattern aligns with the broader dynamic detailed in Olam's coverage of Israeli shipping war risk insurance. Vessels perceived to have an Israeli ownership connection, even if they fly a Singaporean or Liberian flag instead of an Israeli one, have attracted heightened Houthi attention. This has led to correspondingly higher war-risk premiums from underwriters.
What should readers track next on Eastern Pacific Shipping?
Three key developments are worth monitoring for Eastern Pacific Shipping. First, observe whether EPS's newbuild container program and its broader shift toward gas carriers and LNG assets, through the Cool Company acquisition, continue to diversify the fleet. This diversification would move the company away from its historically tanker-heavy composition, which has drawn Houthi targeting.
Second, track whether further Red Sea attacks specifically target EPS-linked vessels, as opposed to other Ofer-controlled shipping assets. The company's substantial scale makes it a large and visible target regardless of flag state. Third, monitor how EPS's ownership structure and its independence from ZIM's "golden-share" obligations play out if Israeli regulators ultimately block the Hapag-Lloyd transaction. EPS would remain Ofer's core shipping asset regardless of ZIM's future.