Compania Sudamericana de Vapores (CSAV) reported a loss of $111m

Chile’s containership owner Compania Sudamericana de Vapores (CSAV)reported a loss of $111m between January and September, compared with a profit of $148.5m in the same period in 2005, according to Reuters.he losses are attributed to lower freight rates and higher price of fuel. Turnover was $2.82bn in the same period, down 4.5%. CSAV has sold its 50% stakes in four 5,500-teu ships to partner Peter Dohle for $170m, TradeWinds reported earlier this month. The vessels have been chartered to Mediterranean Shipping Co (MSC). The Chilean group, which posted net losses of more than $40m in the first half of 2006, will gain a $70m profit on the sale.
CSAV said the sale would be balanced by its $256.7m acquisition in 2009 of three 6,300-teu Dohle-owned newbuildings.