CSAV
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.
Highlights
in thousands of US dollars as of December 31 of each year| 2017 | 2018 | |
|---|---|---|
| Sales | 109,877 | 91,436 |
| Operating income (loss) | 1,334 | 3,700 |
| Net income (loss) attributable to owners of the controller | (188,137) | 18,248 |
| Total assets | 2,265,964 | 2,257,877 |
| Total liabilities | 148,507 | 127,674 |
| Shareholder's equity attributable to owners of the controller | 2,117,457 | 2,130,203 |