CSAV made USD 313 million deficit after taxes in 2012

With its annual report for 2012, major Chilean container carrier CSAV joined the line of shipping companies achieving deficits, as the report shows a deficit of USD 313 million, according to the company's annual report.

Another major container carriers was added to the list of carriers achieving deficits in 2012, as Chilean CSAV yesterday local time published its annual report for 2012. The shipping company, which went through a drastic restructuring plan in 2012, finished the year with a deficit of USD 313 million, though the result should be seen in the light of the company's disastrous year in 2011, which resulted in a USD 1.2 billion deficit.

The restructuring plan meant, among other things, that the fleet was reduced by 67 percent compared to the peak in 2011, and that the carrier transported 57 percent fewer containers. Additionally, the company received fresh capital in 2012.

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