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Since acquisition CSAV, CCNI set their sights on Latin American shipping
IN the wake of the merger of Compania Sud Americana de Vapores (CSAV) with Hapag-Lloyd and the takeover of Compania Chilena de Navegacion Interoceanica (CCNI) by Hamburg Sud, both Chilean companies have sold off their container shipping assets and set their sights on Latin American shipping market.
The services that CSAV continues to provide include transport of vehicles, refrigerated cargo and liquid bulk, as well as logistics operations.
Third quarter profits totalled US$7.6 million against a loss of $35.4 million for the corresponding period in 2014. Most of the profits stemmed from CSAV's stake in Hapag-Lloyd, reported IHS media.
"There is no doubt that the merits of the merger with Hapag-Lloyd are resulting in a significant improvement in our results, " said CSAV chief executive Oscar Hasbun. "We are convinced that opportunities for cost saving will continue being captured in the future."
CSAV's logistics company, SAAM, which operates ports, warehouses and tugs, recorded a profit of $36.7 million in the first nine months of the year, up 0.5 per cent year on year.
CCNI has been rebranded Compania Maritima Chilena after selling its container transport assets to Hamburg Sud. CMC now transports vehicles from Asia, short-sea shipping with two tankers leased to Chile's state-owned oil company ENAP and runs a ship management business with four 9,000-TEU and three 3,100-TEU vessels.
CMC and its holding group, Grupo Empresas Navieras, have ordered four new 9,087-TEU vessels, three of which have already been delivered and are operating in the Asia-west coast South America trade between Hong Kong and Valparaiso. The newbuildings cost US$85 million each and are on 12-year time charters to Hamburg Sud.
The company forecasts revenues will range between $100 and 150 million in 2016 and is looking to develop short-sea shipping in bulk solids and liquids, general cargo, and containers "as there is an interesting market in southern Chile," CMC CEO Jose Luis Chanes was quoted as saying by local media.
The services that CSAV continues to provide include transport of vehicles, refrigerated cargo and liquid bulk, as well as logistics operations.
Third quarter profits totalled US$7.6 million against a loss of $35.4 million for the corresponding period in 2014. Most of the profits stemmed from CSAV's stake in Hapag-Lloyd, reported IHS media.
"There is no doubt that the merits of the merger with Hapag-Lloyd are resulting in a significant improvement in our results, " said CSAV chief executive Oscar Hasbun. "We are convinced that opportunities for cost saving will continue being captured in the future."
CSAV's logistics company, SAAM, which operates ports, warehouses and tugs, recorded a profit of $36.7 million in the first nine months of the year, up 0.5 per cent year on year.
CCNI has been rebranded Compania Maritima Chilena after selling its container transport assets to Hamburg Sud. CMC now transports vehicles from Asia, short-sea shipping with two tankers leased to Chile's state-owned oil company ENAP and runs a ship management business with four 9,000-TEU and three 3,100-TEU vessels.
CMC and its holding group, Grupo Empresas Navieras, have ordered four new 9,087-TEU vessels, three of which have already been delivered and are operating in the Asia-west coast South America trade between Hong Kong and Valparaiso. The newbuildings cost US$85 million each and are on 12-year time charters to Hamburg Sud.
The company forecasts revenues will range between $100 and 150 million in 2016 and is looking to develop short-sea shipping in bulk solids and liquids, general cargo, and containers "as there is an interesting market in southern Chile," CMC CEO Jose Luis Chanes was quoted as saying by local media.
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