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CSAV meets with investors to analyze 2021 results and industry projections

At a breakfast with investors, the CEO of Compañía Sud Americana de Vapores, Óscar Hasbún, referred to the good moments the industry is experiencing.

 

In a hybrid instance, which brought together more than 400 investors, the presentation of the CEO of the Compañía Sud Americana de Vapores, Óscar Hasbún, was carried out, who gave an account of the results of the year 2021, the current challenges that the company and the containershiping industry is undergoing and the forecast for the current year.

Giving an account of an analysis of foreign trade and the changes that the industry has presented, Hasbún referred to the contracts that are being carried out with large clients, in which the terms are being extended in some cases to more than a year. “Contracts before were basically for one year. Now we have signed almost 10% of our volume in multi-year contracts, with guaranteed space rates,” Hasbún said, explaining that this benefits the client, who will be able to ensure availability on ships in the midst of a high demand for space for maritime transportation.

On another topic, the company’s CEO referred to Hapag-Lloyd’s interest in new acquisitions of shipping companies in high-growth markets such as Africa or India and in exploring new options to enter port ownership. In this context, he mentioned that Hapag-Lloyd invested last year in Nile Dutch, a Dutch company that will add around 200,000 TEUs of additional volume annually; and that is awaiting the respective approvals of another company with operations in Africa: DAL (Deutsche Afrika-linien).

When asked about the perspective of freight rates for 2022, Hasbún estimated that although it is complex to make projections, 2021 was a year in which spot rates went from less to more. Instead, in 2022 we expect them to behave inversely. Therefore, it is expected that the congestion in maritime trade should be reduced, and thus lower spot prices should be observed eventually.