As of December 31, 2019
- Quiñenco's interest: 61.5%
- Book value of investment: Ch$1,024,267 million
- Investment since: 2011
- Employees: 41
- Hendaya 60, 14th floor, office 1401, Las Condes, Santiago - Chile
- Telephone: (56) 22588 6000
Compañía Sudamericana de Vapores S.A. (CSAV) develops its main business, containerized freight transport, through its interest in the German shipping company Hapag-Lloyd AG (Hapag-Lloyd).
CSAV is an open-stock company that has traded its shares since 1893. Quiñenco first invested in CSAV in 2011, and holds a 61.5% stake as of December 2019. With 27.8% of the share capital as of December 31, 2019, CSAV is one of the largest shareholders of Hapag-Lloyd, maintaining significant influence and control jointly with the City of Hamburg and Kühne Maritime, under a shareholder agreement.
Hapag-Lloyd operates a global network of 121 line services with connections between all continents and 392 offices in 129 countries.
In May 2017, Hapag-Lloyd materialized a merger with United Arab Shipping Company (UASC), thus becoming one of the five main container ship companies worldwide. Due to the merger, CSAV’s stake in Hapag-Lloyd decreased to 22.6%, increasing to 27.8% at year end 2019.
During the first quarter of 2020, CSAV acquired an additional stake in Hapag-Lloyd, reaching 30.0% ownership.
Highlightsin thousands of US dollars as of December 31 of each year
|Operating income (loss)||3,700||(10,664)|
|Net income (loss) attributable to owners of the controller||18,248||124,616|
|Shareholder's equity attributable to owners of the controller||2,130,203||2,224,187|