Hamburg-based container line Hapag-Lloyd AG and Chilean Line Compañía Sud Americana de Vapores (CSAV) have agreed to merge their container operations subject to approval of regulatory bodies. The combined entity will become the world’s fourth largest container line, behind Maersk, Mediterranean Shipping Co and CMA CGM.
Hapag-Lloyd operate 151 ships and CSAV have 50, so the new company’s fleet would be around 201 ships with a combined capacity of a million teu. The new company will have a global market share of 5.6 per cent, with sales of €9 billion (US$12.4 billion) and an annual transport volume of 7.5 million teu. The main shareholders of Hapag-Lloyd are the City of Hamburg (36.9 per cent), Kühne Maritime (28.2 per cent), and TUI (22 per cent). Founded in 1872, CSAV, one of the oldest shipping companies, is Latin America’s largest shipping company, and also specialises in bulk, car and reefer transport. AM