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Hapag-Lloyd and CSAV finalize shipping merger

Hapag-Lloyd and CSAV have completed their tie up to become the world’s fourth-largest container liner shipping company, with expected annual sales of US$12 billion.

Annual sales of US$12 billion are expected following the tie up, with around 200 vessels likely to be sailing the world’s oceans.

Germany-based Hapag-Lloyd and Chile-based CSAV (Compañía Sud Americana de Vapores) signed the corresponding contracts for the merger in April, with approval from all the relevant global authorities.

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