Three tugs are now attending to the stricken Hapag-Lloyd containership Yantian Express which suffered a cargo fire on 3 January in the Atlantic.

Hapag-Lloyd says that the container fire on the vessel Yantian Express that started on 3 January has been brought under control.

The crew of the containership Yantian Express have been successfully evacuated as the fire in containers on its deck “significantly” increases in intensity.

Hapag-Lloyd says that size is no longer the name of the game in container shipping with consolidation becoming less attractive in the sector as it sets out its strategy to 2023.

Hapag-Lloyd's second largest shareholder Klaus-Michael Kühne has publicly rejected the idea of merger with CMA CGM saying if anything it would rather takeover the French line.

Following its takeover of UASC German container line Hapag-Lloyd is putting newbuilding orders on hold for the next few years.

Following it's merger with UASC Hapag-Lloyd’s debt has ballooned to $8.34bn and the line says it does not plan to newbuildings.

Chile’s CSAV (Compania Sud Americana de Vapores) ceo Oscar Hasbún said that the company posted profits of $32.4m in the fourth quarter of 2016 thanks to Hapag-Lloyd's strong performance in that period.

The European Commission (EC) has approved the merger Hapag-Lloyd and UASC, with a condition that the latter withdraws from a transatlantic service.

Hapag-Lloyd has gained key shareholder approvals for its merger with United Arab Shipping Company (UASC).

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