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 also offers car carrier services to the west coast of South America, which it operates directly.
CSAV is an open-stock company that has traded its shares since 1893. Quiñenco first invested in CSAV in 2011, and holds a 56.2% stake as of December 2018. With 25.9% of the share capital as of December 31, 2018, CSAV is the largest shareholder 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 119 line services with connections between all continents and 407 offices in 128 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 then to 25.9% at year end 2018.
Highlightsin thousands of US dollars as of December 31 of each year
|Operating income (loss)||1,334||3,700|
|Net income (loss) attributable to owners of the controller||(188,137)||18,248|
|Shareholder's equity attributable to owners of the controller||2,117,457||2,130,203|