Two container shipping companies have acknowledged they are in talks about a possible merger that would create the world’s fourth largest such shipping fleet.
Germany’s Hapag-Lloyd and Chile’s CSAV, are reportedly ranked fourth and 20th in the world, respectively.
Both companies have issued identical statements saying, ““Hapag-Lloyd and CSAV are currently maintaining discussions if a possible business combination or any other form of association would be of mutual interest.”
So far there has been no agreement reported.
Hapag-Lloyd this year held merger talks with Hamburg Süd, Germany’s second-largest container line, but the discussions broke down and Singapore's Neptune Orient Lines in 2008.
The combined company would have annual revenue of around $12.5 billion.
Read more about it from the Wall Street Journal or the Financial Times.