CMA CGM proposed a Hapag-Lloyd merger

The French container line CMA CGM consulted with the German container line Hapag-Lloyd regarding a possible merger. Reported by Reuters.

According to three informed sources in financial circles, in recent months, CMA CGM has initiated negotiations with Hapag-Lloyd on the possible forms of merging of the two shipping companies. “The idea that was proposed (…) would be a cashless merger,” one source said. According to sources, the key shareholders of Hapag-Lloyd refused the offer.

The merger of the Chinese COSCO Shipping Holdings Co. and the Hong Kong container line Orient Overseas Container Line received the approval of all interested regulators. The combined company will press CMA CGM from the third position in the ranking of global container lines by the largest container fleet.

CMA CGM Group (headquarters – Marseille) – the third container line in the world. According to the latest data from Alphaliner, the company controls 11.8% of the global container shipping market. The carrier’s active fleet consists of 509 vessels (127 of its own) with a capacity of 2 630 203 TEU (982 230 TEU). The company is represented by 600 offices in 163 countries. The staff is about 30 thousand employees.

Hapag-Lloyd (headquarters – Hamburg) – the fifth container line of the world. According to the latest data from Alphaliner, the company controls 7.2% of the global container shipping market. The carrier’s active fleet consists of 226 vessels (112 own) with a capacity of 1,610,138 TEU (1,047,266 TEU). The operator’s priority markets are Atlantic, North and South America.