Hapag-Lloyd, CSAV Advance Merger Negotiations
Talks between German containership company Hapag-Lloyd and Chilean fellow shipping company Cia. Sud Americana de Vapores SA (CSAV) about combining the container liner shipping activities are entering the next phase, Hapag-Lloyd said in a press release today. Both companies have signed a nonbinding Memorandum of Understanding (MoU).
As the next step, the due diligence will take place, after which a binding contract could follow, Hapag-Lloyd said.
A merger between the two companies would potentially produce the world's fourth-largest container shipping company. Hapag-Lloyd currently operates approximately 150 vessels, while CSAV operates approximately 50.