Approval has finally been given for Hapag-Lloyd and Compañía Sud Americana de Vapores (CSAV) to join operations and become the world’s fourth largest container shipping company. The integration of CSAV’s container business into Hapag-Lloyd’s organisation is expected to be complete by the end of Q2 2015.
We are very proud of the fact that our two long-established companies will now become one of the most prominent players in the global container shipping industry and that this Company has a firm foothold in Latin America, including our home market of Chile. We fit together perfectly thanks to our complementary network, our customer structure, and our excellent professionalism and reputation.- CEO of CSAV
The merged container shipping company will have an estimated 200 vessels with a total capacity of approximately one million TEU. With annual revenues of around $12 billion, and transporting some 7.5 million TEU every year, the combined entity joins an elite group of global container lines.
This is a big day for both companies. With Hapag-Lloyd’s strength in Asian traffic and on the North Atlantic, combined with CSAV’s strong position in Latin America, we will become the leading shipping company in this region, and thereby be able to offer our global customers an even more attractive network and wider range of products. Our ability to compete will also be significantly enhanced by closing the gap to the top three of our industry.- Chief Executive Officer of Hapag-Lloyd
By merging their respective container businesses, CSAV and Hapag Lloyd have replaced Evergreen Line as the fourth largest container liner shipping company in the world, behind Maersk Line, the Mediterranean Shipping Company and CMA CGM.