In the first trimester group CSAV is incurred in a net loss of 182 million dollars



In the first trimester of this year the shipowning group Chilean Compañía American South de Vapores (CSAV) has emphasized considerably the results negatives incurring in a net loss of 182,0 million dollars respect to a net loss of 36,0 million dollars in the first three months of 2010. Such worsening has happened against a decided increase of the revenues that have totaled 1,522, 6 million dollars, with an increase of 36.9% regarding 1.111, 9 million dollars in the first trimester last year. The costs but have recorded an emphasized increase more of the volume of piled transactions being to 1.647, 6 million dollars (+50.2%); such increment - it has explained the company - has resulted from the increase of the ability operated from the group and the increase of the price of the fuel. The result before the taxes has been negative for 196,1 million dollars respect to a result negative for 35,5 million dollars in the first trimester of 2010.

In the first three months of the 2011 fleet of portacontainer of the group it has transported containerized volumes pairs to 876.800 teu, with an increment of 51.9% regarding 577.200 teu in the period January-March last year.

Examinee the situation of the market, CSAV has found that "in the 2010 resumption it has been faster than initially previewed, with an increase of the next question of estimated containerized transport to 12%, with an entire recovery of the decrease recorded in 2009 and with the overcoming of the volumes of 2008. For this year - he has remembered the company - for the containerized transport the analysts attended a balance between the increase of the question and the offer. However - it has emphasized CSAV - the slowest beginning from Native seasonal recovery, in particular the slow down of the increase of the cargo question from China towards the remainder of the world, has produced a temporary excess of ability. Unfortunately, and perhaps as reaction to the crisis of 2009, the main ones competitor of the field have emphasized the competition to the aim to increase use it of the container vessels, reducing the rates hire to levels that are producing a meaningful cost-price squeeze. Perhaps this answers to the expectations of an increase of the question for the next months, in a moment in which the price of the oil - the member of main cost for the industry of the transports - it is increased in meaningful way".