Gemini carriers cut back loading allocations on challenging southern India trade
Southern India’s ocean trade continues to be a challenging market for both Maersk and Hapag-Lloyd, ...
© Khunaspix Dreamstime.
By Mike Wackett
Chilean ocean carrier CSAV suffered a net loss of $61m in the last three months of 2013 and posted a loss of $169m for the full-year, compared with a loss of $331m in 2012.
CSAV has signed a non-binding MOU with Germany’s Hapag-Lloyd to merge the two companies, giving the later a 70% controlling stake in the new entity.
Subject to successful due diligence, the merged companies would create the fourth-largest container carrier in the world.
CSAV has struggled for several years to ...
Comment on this article