Hapag-Lloyd swung to a €54.2 million ($72.6 million) net loss in the second quarter from a €20.9 million profit a year ago as falling freight rates and a weaker dollar offset a modest increase in container traffic.
23 Jan 2014
The merger of Hapag-Lloyd and CSAV would be “a step in the right direction” for the container shipping industry, but the pending marriage of the sixth and 20th largest container lines, respectively, won’t dampen the competitive nature of the market in the long-term, according to Jefferies shipping analyst Johnson Leung.
22 Jan 2014
Hapag-Lloyd and CSAV have signed a memorandum of understanding regarding a possible merger of their container shipping liner services, taking merger talks “into the next phase.”
13 Jan 2014
Hapag-Lloyd is closing in on a deal to take over CSAV, which would create the world’s fourth largest ocean carrier, according to a German language newspaper.
27 Dec 2013
Hapag-Lloyd’s chairman is urging the German carrier’s domestic rival Hamburg Süd to join its merger talks with CSAV, the Chilean container line.
23 Dec 2013
Hapag-Lloyd and CSAV have much to gain by joining forces, but the German and Chilean ocean carriers will face difficulties striking a financial deal, according to Drewry Maritime Research.
09 Dec 2013
The odds are against a merger between Hapag-Lloyd and CSAV largely due to lack of a strategic consensus among shareholders, according to container industry analyst Alphaliner.
05 Dec 2013
The majority of public comments sent to the Federal Maritime Commission regarding the proposed P3 Network were supportive of the vessel-sharing alliance among the world’s three largest global container lines.
05 Dec 2013
Hapag-Lloyd and CSAV are in talks over a possible merger that would create the world’s fourth largest ocean carrier.
26 Nov 2013
Compañía Sudamericana de Vapores reported a net loss of $46.7 million in the third quarter of 2013, compared with a net income of $55.8 million in the same period in 2012.
30 Oct 2013
Mediterranean Shipping Co. plans to expand its IPAK Service between India and Europe by adding a call at King Abdullah Port, Saudi Arabia’s new gateway hub.
02 Oct 2013
Compañía Sud Americana de Vapores has agreed with a consortium of banks to take on $347 million in loans to help pay for the purchase of seven new ships, Reuters reports.