CSAV has raised $108 million from its shareholders to enable it to complete the financing for seven container ships under construction and to meet conditions of its planned merger with German container line Hapag-Lloyd.
26 Jul 2014
The International Longshore and Warehouse Union and the Pacific Maritime Association met for three days this past week without concluding negotiations; at the weekend, the parties announced a week-long recess in the talks. German carrier Hamburg Süd announced plans to acquire the container operations of Chile’s CCNI, in a move resembling the deal between larger competitor Hapag-Lloyd and Chile’s CSAV, and Crowley is reported to be in talks to acquire Horizon Lines’ Puerto Rico assets. Earnings reports by U.S. truckload carriers are pointing to a stronger freight recovery in the United States, though rail service continues to be held back. And on Friday, Anne S. Ferro announced her departure from the Federal Motor Carrier Safety Administration after five years leading the agency.
25 Jul 2014
Hamburg Süd has signed a preliminary agreement to acquire the container operations of the Valparaiso, Chile-based Compañía Chilena de Navegación Interoceánica, or CCNI, by Dec. 31, 2014.
10 Jul 2014
Port workers in Chile have been on strike since July 8, according to maritime service provider Inchcape Shipping Services.
06 Jun 2014
Chile’s Terminal Pacífico Sur Valparaíso has ordered three large ship-to-shore cranes from Liebherr Container Cranes to boost capacity.
06 Jun 2014
Numerous container lines have planned general rate increases in various trade routes to take effect July 1, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
15 May 2014
The world’s economic focus during the 1980s and 1990s was trained on the Asian Tigers of Hong Kong, Singapore, South Korea and Taiwan. Now Argentina’s top agricultural official says the focus is about to shift south.
14 May 2014
U.S. containerized exports edged down 0.5 percent year-over-year in March to 1,075,428 TEUs, the second consecutive month of decline
13 May 2014
U.S. containerized import volume climbed 7.8 percent year-over-year in April 2014.
22 Apr 2014
The planned merger of Germany’s Hapag-Lloyd and Compañia Sud Americana de Vapores (CSAV) moved closer after shareholders controlling just 2.7 percent of the Chilean company’s stock voted against the deal that will create the world’s fourth-largest ocean container carrier.
16 Apr 2014
Hapag-Lloyd and CSAV signed a binding contract to complete a merger to create the world’s fourth-largest container line.