Compañía Sud Americana de Vapores S.A. (CSAV) is a shipping company based in Chile. Its main business is container shipping, through its interest acquired in 2014 in the German company Hapag-Lloyd AG, the world’s fifth-largest shipping line in this segment.
CSAV is a principal shareholder with a 30% interest in Hapag-Lloyd and it is party to a shareholder agreement that controls over 70% of that company. Thus, CSAV exercises significant influence and joint control over Hapag-Lloyd, so it is classified in its financial statements as a joint venture. Its investment in Hapag-Lloyd represents over 85% of the Company’s consolidated assets, which is now its main and only business since July 2020 after closing its directly operated services.
Hapag-Lloyd is the fifth-largest container shipping company in the world, operating one of the most modern, ecological and efficient fleet in the industry, of which it owns over 60%.
With a fleet of 239 container vessels and total capacity of 1.7 million TEU, Hapag-Lloyd boasts a portfolio of 121 services and a highly diversified, well-balanced logistics network, operating in 129 countries and along the most important global shipping routes. Furthermore, it is the main member of THE Alliance, one of three alliances that together represent more than 90% of global shipping capacity on east-west routes.
The company’s extensive network gives it global coverage that connects the main east-west (Far East, Trans-Pacific and Atlantic) trades, north-south (Latin America) trades and internal and emerging trades (intra-Asia, intra-Europe, intra-America, Africa and Oceania). Its services include specialized and over-sized cargo, together with chemical and refrigerated cargo, serving a highly diversified commercial portfolio.
Hapag-Lloyd has been actively involved in transforming the industry over the past few years. It initiated the last wave of consolidation by merging with CSAV in December 2014, followed by merging with the United Arab Shipping Company (UASC) in May 2017, to become the fifth-largest global shipping line.
Similarly, it has negotiated joint operating agreements and global alliances that have extended the scope of its services. Hapag-Lloyd currently participates in “THE Alliance”, in operation since April 2017 and which holds a significant share of the major east-west trades.
More information about Hapag-Lloyd available on their website www.hapag-lloyd.com.
indicators of hapag-lloyd
by June 30th, 2020