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Showing results for COMPANIA SUD AMERICANA DE VAPORES S.A. ("CSAV")
...Four companies — Chile’s CSAV, Japanese carriers “K”Line and NYK, and the Norwegian/Swedish carrier WWL-EUKOR — were fined a total of €395m for a cartel that fixed the bidding to maintain the traditional...
...The S$1.30-a-share offer for the Singapore line represents a 49 per cent premium to the undisturbed share price and comes as the industry struggles to cope with weak demand and overcapacity that has dogged...
...Friday’s closing price in Singapore values NOL at S$2.91bn ($2.06bn)....
...Germany’s Hapag-Lloyd and Chile’s Compañía Sud Americana de Vapores have signed a binding merger agreement to create the fourth largest container shipping company with some €9bn ($12.4bn) in annual sales...
...Germany’s Hapag-Lloyd last year bought Chile’s CSAV, while China’s China Shipping Container Lines and Cosco — both state-controlled — are in talks about merging their companies to become the fourth-biggest...
...CSAV grew rapidly during the past decade as it sought to become a worldwide operator, and was briefly among the world’s top 10 operators by fleet size....
...Hapag-Lloyd this year held merger talks with Hamburg Süd, Germany’s second-largest container line, but the discussions broke down....
...In April, Germany’s Hapag-Lloyd and Chile’s CSAV joined forces to create the world’s fourth-largest container ship fleet....
...Meanwhile, Germany’s Hapag-Lloyd is in merger talks with Chile’s CSAV, which, if successful, would create the world’s fourth largest container line by capacity....
...(Financial TImes) Two of the world’s highest-profile container shipping lines to join forces: Germany’s Hapag-Lloyd and Chile’s CSAV, announced on Wednesday that they will create the world’s fourth-largest...
...The broad losses follow a 0.1 per cent pullback in the S&P 500, after a strong private payrolls survey increased speculation that the Federal Reserve could soon trim back, or “taper”, its stimulus measures...
...Their London-listed subsidiary, Antofagasta, operates one of the world’s biggest copper mines: it has majority stakes in Chile’s largest bank Banco de Chile, a beer company monopoly and a leading television...
...The worst hit – Chile’s CSAV – made a $1.24bn net loss on $5.15bn revenue....
...Latin America’s biggest shipping company, Chile’s CSAV, is seeking a “strategic partner” to take over its lossmaking container shipping operations amid the industry’s slump, its chief executive has confirmed...
...One company – Malaysia’s MISC – has quit container shipping in response while three others – Korea’s Hanjin, Israel’s Zim and Chile’s CSAV – are raising new capital in the face of significant losses....
...Israel’s Zim has announced it needs $100m new capital and Chile’s CSAV has said it needs to raise $1.2bn....
...It will cost MISC $400m to leave container shipping – a cost that it predicted would push the company as a whole into a full-year loss....
...Another company, Chile’s CSAV, has said it is looking for a partner for its container shipping operations. A6 Alliance members called the alliance a “milestone agreement”....
...“Down the road, we see the stakeholders better off than they were before the crisis and the company in a new competitive position, looking at its future in a different way,” Rafael Moreira, CSAV’s finance...
...Alex de Bruyn, southern Africa trades director for Safmarine, a container operator belonging to Denmark’s AP Møller-Maersk, says container ships leave South Africa – and many other places – nearly every...
...A number of lines – including Germany’s Hapag-Lloyd, Israel’s Zim and Chile’s CSAV – have all needed emergency rescue packages to survive the slump caused by falling traffic and a huge over-supply of ships...
...Nol’s shares fell S$0.02 to S$1.53 on Monday....
...The closest brush with catastrophe came last May, when Hamburg shipowners and HSH Nordbank rescued CSAV, a Chilean container line that had chartered 90 ships from north German owners and almost collapsed...
...Chile’s CSAV, which is far smaller than Hapag-Lloyd, announced at the end of May capital of $710m as part of a rescue deal agreed by the owners of the ships it operates....
...CSAV said in April that it planned a $220m equity raising to go with a $130m issue already under way....
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