Update from ATAK-ORBIT (Türkiye) regarding Hapag-Lloyd and CSAV agreement | PANCO Member News

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[Home](https://www.pancoworld.com/)› [Member News](https://www.pancoworld.com/member-news)› [Cooperation](https://www.pancoworld.com/member-news/category/cooperation)›Update from ATAK-ORBIT (Türkiye) regarding Hapag-Lloyd and CSAV agreement

Cooperation16 Apr 2014

# Update from ATAK-ORBIT (Türkiye) regarding Hapag-Lloyd and CSAV agreement

I would like to share the following information about our industry. Maybe you have already follow up but i want to remind it. Hamburg SUD and CSAV signed combination agreement.

**Hapag-Lloyd and CSAV create the fourth largest shipping company in the world**

On Wednesday 16th of April Hapag-Lyoyd PLC and Compañía Sud Americana de Vapores (CSAV) signed a Business Combination agreement and thereby completing a binding agreement on the merger of CSAV and Hapag-Lyoyd, reports the German website, Fruchthandel.de. Subject to regulatory and competition authorities CSAV will be subsumed into Hapag-Lloyd.

The headquarters will continue to be in Hamburg according to official reports. Above all Hapag-Lyod will gain a strong regional centre in Chile for business in Latin-America. Thanks to the merger Hapag-Lloyd will become one of the four biggest shipping company in the world with around 200 ships with a total transport capacity of approx. one million TEU, a yearly freight capacity of more than seven million TEU and a turnover of nine billion Euro.

"_I am very pleased the we managed to complete this partnership. This day is an important milestone in the history of Hapag-Lloyd_," said Michael Behrendt, Chairman of Hapag-Lloyd, after the signing of the agreement.

 B. Regards / Saygılarımızla Mehmet ÖZKUL Int’I Logistics Manager![ATAKORBIT_LOGO](https://cdn.pangea-network.com/2016/04/ATAKORBIT_LOGO.png)

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