CSAV Group is a Chilean shipping company founded in 1872, making it one of the oldest shipping companies in the world and one of the largest in Latin America. The ocean carrier has a fleet of 51 container ships, 10 car carriers, and 3 bulk. With a presence in more than 80 countries, CSAV is the 20th-largest container shipping company worldwide.
CSAV Group posted revenues of US$3.21 billion in 2013 — down 6.6 percent on a year-on-year basis. The company recorded a net loss of $169 million, down 46 percent from the previous year’s net loss of $313.6 million.
CSAV Group was the 23rd-ranked container carrier in U.S containerized import trade in 2013, with volume of 141,662 TEUs, up 2.9 percent year-over-year, giving it market share of 0.8 percent. It was No. 20 in U.S. containerized export trade in 2013, with volume of 139,198 TEUs, up 3.8 percent year-over-year and market share of 1.1 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.
Shareholders of CSAV overwhelmingly voted in favor of a planned merger with Germany’s Hapag-Lloyd that would create the world’s fourth-largest container shipping line. The planned merger was backed by 84.5 percent of CSAV’s shareholders at a special stockholders’ meeting in Valparaiso. The deal is expected to close this year.