The three largest shareholders of German liner company Hapag-Lloyd have extended an agreement giving them majority control for two more years.

Chile’s Compania Sud Americana de Vapores (CSAV), Germany’s Kuhne Maritime and the City of Hamburg will retain their combined 73.6% stake in the world’s fifth-largest liner operator through to the end of 2026.

The agreement was originally set to expire at the end of 2024, and there was speculation that shareholders might seek to cash in on the high share price.