CSAV widens losses from quarter to quarter against 2010 Q3 profit

CHILE`s container shipping line CSAV has posted a third quarter net loss of US$343 million, down from the $149 million profit recorded a year earlier, reports London`s International Freighting Weekly (IFW).

The third quarter net loss marks the second straight quarterly loss for the company, which posted a $339 million loss in the preceding three-month period. Cargo volumes fell 8.6 per cent to 785,100 TEU while its average freight rate increased 2.3 per cent, a rise attributed to a decision to shed low-paying cargo, according to London`s Containerisation International.


CSAV still seeks a partner to further improve economies of scale, and has been pressing ahead with the separation of its agency company, SAAM, to assist with this, said a CI report.