- Business
- Compañía Sud Americana de Vapores S.A. (CSAV) operates as a Chilean shipping company primarily focused on container shipping through its 30% stake in Hapag-Lloyd AG, the world's fifth-largest container liner; it also provides services in dry bulk, liquid bulk, refrigerated cargo, vehicle transport, and logistics support including cargo handling, terminal concessions, towing, storage, and container repairs. Founded in 1872 and headquartered in Valparaíso, Chile, CSAV trades on the Santiago Stock Exchange under the ticker VAPORES.SN and maintains global operations across five continents, connecting key east-west trades (Far East, Trans-Pacific, Atlantic), north-south routes (Latin America), and intra-regional markets (intra-Asia, intra-Europe, intra-America, Africa, Oceania) via owned and chartered vessels designed for containers, oversized cargo, chemicals, reefers, and forestry products; its subsidiaries include Corvina Shipping Co SA, CSAV Austral SpA, and Compañía Naviera Río Blanco SA, with Latin America accounting for over 70% of its traffic. Recent developments include CSAV's reporting of net profits of US$388.3 million for 2024, up 50% from 2023, driven by its share of Hapag-Lloyd's earnings amid Red Sea disruptions boosting rates; Hapag-Lloyd's November 2024 order for 24 new container ships (12 at 16,800 TEU and 12 at 9,200 TEU, total investment US$4 billion, delivery 2027-2029), launch of the Gemini Cooperation with Maersk in February 2025 (90%+ itinerary reliability across 900+ ports), and March 2025 acquisition by its terminal unit Hanseatic Global Terminals of 60% in Le Havre's Terminal de L’Atlantique; CSAV also approved a US$200 million dividend in October 2025 and repatriated dividends from Hapag-Lloyd while becoming debt-free.