Hapag-Lloyd joined its future merger partner CSAV in reporting a loss in the third quarter.

The German container line reported a loss of EUR50.7m ($63.1m) in the third quarter of 2014, compared to a profit of EUR16.6m in the same period last year. For the first nine months of 2014 Hapag-Lloyd lost EUR224m, compared to EUR56.1m in the same period in 2014.

Hapag-Lloyd said it expects to complete its merger with CSAV’s container business in the fourth quarter, pending regulatory approval by China.

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