Independent journal on economy and transport policy
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Trimester positive April-june for shipowning society Chilean CSAV
In the first six months of the 2013 fleet of the group it has transported 900 thousand container (- 7.8%)
July 31, 2013
In spite of the important contraction of the turnover the shipowning society Chilean Compañía American South de Vapores (CSAV), graces also to still more decided cost reduction determined from the assumed measures in order to generate economies of scale and to diminish the operating and financial burdens, has archived item the second trimester of this year with economic results of positive sign regarding the losses recorded in the same period of 2012.
The group has concluded the period April-june of the 2013 with a profit clearly of 34,8 million dollars respect to a net loss of -140,4 million dollars in according to trimester last year. The result includes extraordinary proceeds for 74 million dollars generated from the CSAV decision to in advance pay the debit contracted with the insurance company American Family Assurance Company (AFLAC). The revenues are diminished of 18.3% attesting to 774,4 million dollars while the costs have totaled altogether a bending of 21.0% having come down to 751,0 million dollars. The operating result has been of positive sign for 21,6 million dollars respect to operating liabilities of -62,9 million dollars in according to trimester of 2012.
In the first semester of 2013 group CSAV it has recorded a net loss of -61,1 million dollars (with extraordinary proceeds for 34 million dollars) on revenues for 1,651, 5 million dollars respect to a net loss of -343,3 million dollars on revenues for 1,791, 8 million dollars in the first six months last year. The South American company has closed the first half of the 2013 with operating liabilities of -72,6 million dollars respect to operating liabilities of -239,7 million dollars in the same period last year.
In the first six months of this year the fleet of ships of group CSAV has transported containerized volumes pairs to 900 thousand teu, with a bending of 7.8% regarding the first half of 2012.
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In spite of the important contraction of the turnover the shipowning society Chilean Compañía American South de Vapores (CSAV), graces also to still more decided cost reduction determined from the assumed measures in order to generate economies of scale and to diminish the operating and financial burdens, has archived item the second trimester of this year with economic results of positive sign regarding the losses recorded in the same period of 2012.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
