The combination will see the creation of the fourth largest liner shipping company, operating around 200 vessels with a total capacity of 1m teu.
Following the deal, the two companies expect annual savings of at least $300m as a result of network optimisations and cost reductions.
The guidance for total revenue is around $12bn.
Rolf Habben Jansen, chief executive for Hapag-Lloyd, said: “This is a big day for both companies.
