CSAV closes according to trimester with a net loss of -58,2 million dollars



In according to trimester of this year shipowning society Chilean Compañía American South de Vapores (CSAV) April-june of 2013 has recorded a net loss of -58,2 million dollars respect to a profit clearly of 34,8 million dollars in the period. The result of this year includes a loss of -50,3 million dollars from the destined activities to the dismissione, that they are constituted by the marine activities of containerized transport of the South American company that are destined to the fusion with those of the German company Hapag-Lloyd ( on 17 April 2014), while the correspondent voice in according to quarterly budget of 2013 anticipates a net loss of -34,6 million dollars. Al clearly of the result of such activities in dismissione, CSAV has closed the second trimester of the 2014 with a net loss of -7,9 million dollars respect to a profit clearly of 69,4 million dollars in the same period last year. CSAV has remembered that the result of according to trimester of 2013 includes extraordinary proceeds for 74 million dollars which effect of the prepayment of the residual debit with the American Family Life Assurance Company and of the Brazilian reorganization of the branches.

The economic account of according to trimester of 2014 anticipates, to clearly of the destined activities to the resignations, revenues for 63,9 million dollars, down of the -36,8% regarding the period April-june last year, and an operating loss of -23,3 million dollars respect to an operating profit of 59,9 million dollars in according to trimester of 2013.

CSAV has explained that the results of according to trimester of this year are effect mainly of the complex scene that continues to characterize the industry of the shipping, with a low level of the hires regarding the first trimester of the year and above all regarding according to trimester of 2013 (with a decrease are of the -9,9%). An other factor that has had an impact negative is constituted by the loss of -18,6 million dollars produced from the cession of the participation in joint venture with DryLog in the segment of the solid bulk.

The Chilean company has announced moreover that in according to trimester of this year volumes transported from the fleet they have recorded an increment of +13.5% regarding the trimester precedence and an increase of +7.9% regarding according to trimester of 2013, and that both such increments have turned out advanced to the respective increases of the generated operating costs from the activities of marine transport.

"The field - the managing director of the CSAV, Oscar Hasb has commented ún - continues to tackle to a scene of the hires much unstable complex and. In spite of that continuous CSAV to show a remarkable improvement of the structure of its it costs and this is online with the strategy of the new operating model of the company".