Tie-up will form the fourth-largest container shipping firm in the world
Fri, Jan 24, 2014 - 6:00 AM
Boxed in: Hapag-Lloyd and CSAV are struggling to overcome a slump in the container market and compete with larger rival AP Moeller-Maersk. - PHOTO: BLOOMBERG
[SANTIAGO] Cia Sud Americana de Vapores SA (CSAV), controlled by Chile's billionaire Luksic family, signed an agreement with Germany's Hapag-Lloyd AG to combine operations and form the world's fourth-largest container shipping company.