Freighting Update – News


CSAV denies its container business is for sale


Chilean shipping line restructuring and looking for JV partner


CHILEAN container line CSAV has denied claims that its container business is up for sale. In a statement, the company said it was


restructuring its services to focus on markets in which it had clear competitive advantages, and that it was seeking joint-ventures with other shipping companies to “enhance the efficiency and quality of its services”. CSAV said: “The plan involves the search


for a strategic partner for our container busi- ness, but not finding a buyer for that business unit.” CSAV clarified its position following reports


that it had decided to dispose of the business after posting a second quarterly loss in Q3, due to weaker cargo demand and the volatil- ity of freight rates. The company added that it was separating


its cargo shipping business from the port and terminal operations operated by its sub- sidiary, Sudamericana Agencias Aéreas y


Marítimas, in order to promote the growth of the latter. Celfin Capital is advising CSAV on a US$1.2


billion capital increase that will strengthen the shipping line’s financial position.


Green wind blows some good at Belfast


BELFAST Harbour is to invest £50 million (US$77m) to develop a new terminal for the assembly of offshore wind turbines. The project is the largest in the facility’s 400-


year history and will create 150 jobs and provide a major boost for the Northern Ireland construction industry. The 20ha facility will initially support the con-


struction of the West of Duddon Sands offshore wind farm – a 50:50 joint-venture between Danish state company Dong Energy and ScottishPower Renewables. The terminal will open in 2013. The develop-


ment is the first bespoke offshore wind installation and pre-assembly harbour in the


UK, and is part of Belfast Harbour’s wider plans to create a renewable energy hub. Len O’Hagan, Chairman of Belfast Harbour,


said: “This is one of the most important devel- opments in the history of Belfast Harbour, providing a platform from which to market Northern Ireland as one of the UK’s leading green hubs. “Dong


Energy and ScottishPower


Renewables are world leaders in renewable energy and their decision to invest in the Harbour is a major coup.” The £50 million cost of the terminal will be


funded entirely by Belfast Harbour which will, in turn, lease the facility to Dong Energy.


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