HAMBURG, Dec 3 (Reuters) - German container shipping group Hapag-Lloyd, which is merging with Chile's Compania SudAmericana de Vapores, is in no rush to list its share on the stock exchange, its chief executive said on Wednesday. "A stock market flotation is currently not top priority for us," Rolf Habben Jansen said, adding the company would first focus on integrating … [Read more...]
Done Deal: Hapag-Lloyd and CSAV Complete Merger, Become World’s Fourth Largest Liner Shipping Company
Hapag-Lloyd and the Chile's Compañía Sud Americana de Vapores (CSAV) have completed their long-awaited merger, officially creating the world's fourth largest container shipping company. The corresponding contracts for the merger of the two companies were signed back in April in Hamburg and with the approval from all relevant global regulatory authorities, all conditions for … [Read more...]
News That CSAV Is The Least Profitable Boxline Overshadows Hapag-Lloyd Merger
By Mike Wackett The scale of the challenge facing Hapag-Lloyd’s management team overseeing the integration of CSAV has been underlined by new research from Alphaliner which shows how the Chilean carrier was the least profitable shipping line in the first half of this year. Alphaliner surveyed 17 carriers that had delivered first-half results, and CSAV came bottom, with a … [Read more...]
CSAV Boxship Loses Containers in Typhoon [IMAGES]
![CSAV Boxship Loses Containers in Typhoon [IMAGES]](https://gcaptain.com/wp-content/uploads/2014/07/CSAV-Traiguen-1-207x125.jpg)
The following images were sent to us from an anonymous source showing containers allegedly hanging off the side of the containership CSAV Traiguen as a result of the ship's recent encounter with a typhoon off China. We've been unable to independently verify the accuracy of the images however. The 93,454 gross ton, 8,600 teu ship is currently enroute to Yangshan, China … [Read more...]
Loss-Making CSAV Revamps Liner Division to Prepare for Merger with Hapag-Lloyd
By Mike Wackett In preparation for its container business merging into a “new” Hapag-Lloyd this year, troubled Chilean carrier CSAV is restructuring its liner business, according to Alphaliner. It is part of a three-year-old plan designed to increase efficiency and boost profits. The transport analyst says that ahead of the takeover, which will initially see CSAV as a … [Read more...]
CSAV Shareholders Approve Hapag-Lloyd Tie-Up
SANTIAGO, March 21 (Reuters) - Shareholders of Chilean shipper Compania SudAmericana de Vapores on Friday approved an agreement that combines its container-shipping operations with those of Germany's Hapag-Lloyd, though dissident stakeholders could still kill the deal in the next month. Vapores has agreed to take a 30 percent stake in Hapag-Lloyd, making it the single … [Read more...]
CSAV Agrees to $8.9 Million Fine for Price Fixing Scheme
WASHINGTON, Feb 27 (Reuters) - Chilean shipping firm Compania Sudamericana de Vapores has agreed to plead guilty to a price-fixing conspiracy and pay an $8.9 million criminal fine to the U.S. government, the U.S. Justice Department said on Thursday. The Justice Department's antitrust prosecutors said in a statement that the company had conspired to rig bids to push up prices … [Read more...]