CSAV up from 16th to 7th place in global rankings over 12 months

CHILE's CSAV has doubled its operated vessel capacity from 280,000 TEU to 560,000 TEU over the last 12 months, placing it in seventh place in the global rankings, up from 16th last year, reports Alphaliner.

The carrier handled 276,800 TEU in September, an increase of 3.8 per cent, setting a new monthly record. CSAV earlier reported a first half net profit of US$30 million compared to a loss of $403 million in last year's first half.

Average freight rates were also up two per cent in September compared to the previous month. The increase in CSAV's average freight rate came despite weaker market rates last month.

Paris-based Alphaliner attributes CSAV's success mainly to the change in the carrier's trade mix as its recent expansion has focused on the Far East-Latin America and Far East-US trades, where average freight rates are higher.
(Source:www.schednet.com)