CSAV Group

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.

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.

30 Aug 2014
Chilean container line CSAV cut back its losses in the second quarter, losing $58.5 million ahead of its merger with German carrier Hapag-Lloyd.
26 Aug 2014
CSAV has announced plans to introduce a new weekly service, the IMEX Sling 1, connecting the Indian subcontinent, the Middle East and North Europe, starting in late October.
20 Aug 2014
Overall capacity operated by the Top 21 container carriers increased 5.6 percent or 847,000 TEUs in the last 12 months, according to industry analyst Alphaliner’s latest newsletter, furthering chronic overcapacity in the container shipping market.
Hamburg Express Hapag-Lloyd vessel
12 Aug 2014
Hapag-Lloyd swung to a €54.2 million ($72.6 million) net loss in the second quarter from a €20.9 million profit a year ago as falling freight rates and a weaker dollar offset a modest increase in container traffic.
Weekly wrap-up for August 9, 2014
08 Aug 2014
Troubles in the Pacific Northwest dominated the news this week.
Hapag-Lloyd's Kyoto Express container ship
06 Aug 2014
The U.S. Department of Justice and the Federal Trade Commission cleared the planned merger between Hapag-Lloyd and Compania Sud Americana de Vapores, which will create the world’s fourth-largest ocean container line.
05 Aug 2014
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.
01 Aug 2014
The G6 Alliance is performing abysmally compared with its competitors when it comes to schedule reliability, according to a new SeaIntel report.
A Hapag-Lloyd container seen in Singapore.
02 Jul 2014
The ink was hardly dry on Hapag-Lloyd’s merger deal with Chilean carrier CSAV when departing chief executive Michael Behrendt raised the prospect of acquiring an Asian container line.
06 Jun 2014
Despite recent improvements, global container lines’ schedule reliability and on-time container delivery have been worse every month so far this year versus last year.
CSAV container ship
29 May 2014
In announcing sharply lower losses for the first three months of the year, CSAV said it expects to close on a merger agreement with Hapag-Lloyd in the fourth quarter.
13 May 2014
Hapag-Lloyd today pinned its financial future to the expansion of the G6 Alliance into the key east-west liner trades and its takeover of Chile’s CSAV, as its first-quarter loss widened and revenue declined.
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.
Michael Behrendt, chairman of the executive board of Hapag-Lloyd (left), and Oscar Hasbún, CEO of CSAV, today at Hapag-Lloyd headquarters in Hamburg after the signing.
16 Apr 2014
Hapag-Lloyd and CSAV signed a binding contract to complete a merger to create the world’s fourth-largest container line.
Container ship in Hamburg, Germany.
08 Apr 2014
The 2013 financial reporting season for container lines ended for many carriers in a sea of red ink as high bunker prices and weak freight rates combined to drag down profits.
07 Apr 2014
Hapag-Lloyd was first carrier to announce the westbound May rate increases even as April 1 GRIs struggle to lift a market weighed down by overcapacity and weak demand.
Headquarters of Hapag-Lloyd and CSAV.
21 Mar 2014
Shareholders of Chilean ocean carrier CSAV today overwhelmingly voted in favor of a planned merger with Germany’s Hapag-Lloyd that would create the world’s fourth-largest container shipping line.
21 Mar 2014
Ocean container lines and the shipowners that lease ships to them are suspending new ship orders for fuel-efficient mega-
20 Mar 2014
Shareholders of Chilean ocean carrier CSAV are expected to approve tomorrow a possible merger with Hapag-Lloyd that would create the world’s fourth largest container shipping line.
06 Mar 2014
Chilean carrier CSAV will pay a $625,000 civil penalty to resolve U.S. government allegations it violated the Shipping Act in connection with a scheme to fix prices for shipments of roll-on, roll-off shipments such as cars and trucks.
28 Feb 2014
CSAV has agreed to plead guilty and pay a criminal fine of $8.9 million for its involvement in a conspiracy to fix prices, allocate customers and rig bids of international shipping services...
19 Feb 2014
A depressing air of déjà vu enveloped the Hamburg shipping community when Greek container ship owner Danaos announced that it is taking a $19 million hit on the debt restructuring of Zim as it cuts the charter rates of six ships on hire to the Israeli ocean carrier.
14 Feb 2014
Chilean carrier CSAV said it plans to add up to $600 million in capital to complete the financing of ships under construction and to help finance a proposed merger with German shipping line Hapag-Lloyd.
MSC Mediterranean container ship
06 Feb 2014
Shippers should expect declining container ship reliability over the near term.
Cargo containers on a ship
04 Feb 2014
Based on SeaIntel’s monthly Global Liner Performance reports from 2013, container ships reached their destination ports around the world on time 79.5 percent of the time in 2013...
Container ship
31 Jan 2014
Container ships arrived at their destination ports across the globe on time 73.7 percent of the time in December 2013...
23 Jan 2014
The merger of Hapag-Lloyd and CSAV would be “a step in the right direction” for the container shipping industry, but the pending marriage of the sixth and 20th largest container lines, respectively, won’t dampen the competitive nature of the market in the long-term, according to Jefferies shipping analyst Johnson Leung.
CSAV Suape
22 Jan 2014
Hapag-Lloyd and CSAV have signed a memorandum of understanding regarding a possible merger of their container shipping liner services, taking merger talks “into the next phase.”
Hapag-Lloyd
13 Jan 2014
Hapag-Lloyd is closing in on a deal to take over CSAV, which would create the world’s fourth largest ocean carrier, according to a German language newspaper.
Hamburg Süd containers
27 Dec 2013
Hapag-Lloyd’s chairman is urging the German carrier’s domestic rival Hamburg Süd to join its merger talks with CSAV, the Chilean container line.
23 Dec 2013
Hapag-Lloyd and CSAV have much to gain by joining forces, but the German and Chilean ocean carriers will face difficulties striking a financial deal, according to Drewry Maritime Research.
09 Dec 2013
The odds are against a merger between Hapag-Lloyd and CSAV largely due to lack of a strategic consensus among shareholders, according to container industry analyst Alphaliner.
05 Dec 2013
The majority of public comments sent to the Federal Maritime Commission regarding the proposed P3 Network were supportive of the vessel-sharing alliance among the world’s three largest global container lines.
Headquarters of Hapag-Lloyd and CSAV
05 Dec 2013
Hapag-Lloyd and CSAV are in talks over a possible merger that would create the world’s fourth largest ocean carrier.
26 Nov 2013
Compañía Sudamericana de Vapores reported a net loss of $46.7 million in the third quarter of 2013, compared with a net income of $55.8 million in the same period in 2012.