4/18/2014 9:35:10 AM
container shipper Hapag-Lloyd and its Chilean peer Compania Sud
Americana de Vapores have signed a binding merger agreement that will
create the world's fourth-largest container-shipping company in terms of
But recently, pressure to consolidate has increased ahead of the expected launch later this year of an alliance between Denmark's A P Møller-Maersk, Switzerland's Mediterranean Shipping Co and France's CMA CGM, the industry's top three players in terms of capacity. The alliance, called P3, would control about half the market share of the world's busiest trade routes.
Hapag-Lloyd operates about 150 ships, competing head-on with the P3 partners on the Asia-Europe, transatlantic and transpacific routes. CSAV operates about 50 vessels.