January 23 - Hapag-Lloyd and CSAV have signed a memorandum of understanding (MOU) about combining the container liner shipping activities of the two companies.

In light of the news reported by HLPFI on December 5, 2013 that the two shipping companies were holding discussions over whether a business combination or association of some sort would be of mutual interest, these talks have gone into the next phase.

The MOU is not yet binding and after the next phase of due diligence has taken place, a binding contract should follow, said Hapag-Lloyd.