CSAV and Hapag-Lloyd in merger talks

The German box line stated that as of today the parties had not come to any agreement. CSAV also confirmed the talks late yesterday.

"Vapores (CSAV) currently is in talks with diverse actors in the industry, including negotiations with German company Hapag-Lloyd for a possible tie-up in the container-shipping business," the Chilean company said in a statement reported by Reuters.

Earlier this year, Hapag-Lloyd failed to reach an agreement with compatriots Hamburg Süd over a possible merger, despite the backing of Hamburg City.

The discussions with Chilean CSAV are the latest in a long line of merger talks for Hapag-Lloyd, stretching back over 15 years, including on multiple occasions Singapore's Neptune Orient Lines (NOL).