CSAV

What CSAV does

CSAV (Compañía Sud Americana de Vapores S.A.) is a Chilean publicly traded holding company founded in 1872 and listed on the Santiago Stock Exchange under ticker VAPORES. The company does not operate vessels directly; instead, it functions as an investment vehicle whose entire economic value derives from its approximately 30% stake in Hapag-Lloyd AG, the fifth-largest global container carrier and a member of THE Alliance. Through Hapag-Lloyd, CSAV provides exposure to container and bulk shipping routes connecting South America (notably Chile's copper, salmon, and agricultural exports) to North America, Europe, and Asia. The core 'product' is dividend income and capital appreciation linked to Hapag-Lloyd's operating performance, complemented by investor relations tools (a monthly NAV calculator and a US Public Tariffs information portal) and the CSAV Foundation, a sustainability arm focused on education and community development in the port city of San Antonio, Chile.

The company's revenue model is effectively a single stream: dividend distributions and equity-method income from its Hapag-Lloyd shareholding, with no direct freight pricing, customer contracts, or shipping operations of its own. CSAV's go-to-market is investor-relations oriented — it serves public market shareholders (primarily in Chile) through quarterly and annual reports, analyst coverage, risk-rating disclosures, and an annual Global Trade Day seminar series. Headcount is modest at 51–100 employees, reflecting the holding-company structure. Its sole direct counterparties for services are corporate registrars (DCV for shareholder services) and ports/community partners (Liga Marítima de Chile, INCO, Liceo Juan Dante Parraguez, Escuela Padre André Coindre, SOFOFA, CAMPORT, Fundación del Pacífico, Kyklos, Hanseatic Global Terminals) for ESG and educational work.

Technically, CSAV operates a small digital footprint: a WordPress-based corporate website, a monthly NAV calculator reflecting the weighted market value of Hapag-Lloyd shares, corporate cash, tax assets, and corporate debt, and a public tariff lookup tool. No proprietary shipping technology, APIs, software platforms, or developer-facing integrations are offered. Reported financial scale includes NAV of US$ 7.45 billion and market capitalization of US$ 2.67 billion as of December 31, 2025, 2025 net income of US$ 213.1 million, and a US$ 82.9 million loss in 1Q26 driven by weaker Hapag-Lloyd freight rates and elevated operating costs.

Name

CSAV

Legal name

Compañía Sud Americana de Vapores S.A.

Website

https://csav.com

Company type

Public

Founded year

1872

Operating status

Operating

Headcount range

51–100 employees

Short description

CSAV is a Chilean publicly traded shipping holding company (founded 1872, ticker VAPORES) whose entire economic value derives from its approximately 30% stake in Hapag-Lloyd, the fifth-largest global container carrier. It serves public market investors through dividend distributions tied to Hapag-Lloyd's performance and operates no vessels directly.

Ownership category

akta.pro rank

Product category

Maritime Container Shipping

NAICS

Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411)

akta.pro primary industry

FCL Aggregation / Co-Loading & Space Brokerage (TLACALAF)

akta.pro secondary industry

Multi-Country Consolidation (MCC) / Regional Hub Consolidation (TLACALAD)

Keywords

• Container shipping services
• Maritime holding company
• Bulk shipping operations
• Global container logistics
• Maritime investment vehicle

Headquarters

HQ city

Las Condes

HQ country

Chile

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Revenue model

1. Dividend Income from Hapag-Lloyd: CSAV operates as a holding company generating revenue primarily through its approximately 30% stake in Hapag-Lloyd, receiving dividend income from the German shipping company's operations. The company closed 2025 with profits of US$ 213.1 million and reported losses of US$ 82.9 million in 1Q26.

Distribution channels1 record

Marketing channels4 records

Core offering

CSAV (Compañía Sud Americana de Vapores S.A.) is a Chilean holding company that operates container and bulk shipping routes connecting South America to North America, Europe, and Asia. The company conducts its primary shipping operations through its approximately 30% stake in Hapag-Lloyd, operating within THE Alliance, and generates revenue primarily via dividend income from this strategic investment.

Product overview

CSAV (Compañía Sud Americana de Vapores S.A.) is a Chilean shipping company that operates container and bulk shipping routes connecting South America to North America, Europe, and Asia. The company conducts its primary shipping operations through its approximately 30% stake in Hapag-Lloyd, operating within THE Alliance. CSAV's product portfolio centers on its core shipping services (container and bulk shipping), complemented by investor relations tools (NAV CSAV calculator), customer-facing tariff information tools, and the CSAV Foundation social initiative focused on education and community development in port cities.

Differentiator

Problem solved

Functional benefit

Products and services

• Container Shipping Services

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Liga Marítima de ChilecoreStrategic or Co-development Partner · 11 June 2026CSAV and Liga Marítima de Chile co-organized the 5th Global Trade Day seminar 'The Logistics Supply Chain and the Threat of Organized Crime' held at the National Maritime Museum in Valparaíso, bringing together authorities, police, armed forces, and maritime-port sector representatives.
• Hapag-LloydcoreStrategic or Co-development PartnerCSAV is one of the largest shareholders of Hapag-Lloyd, holding approximately 30% stake. CSAV operates within the container industry through Hapag-Lloyd, and the company reports on Hapag-Lloyd's quarterly results through its investor relations channels.
• THE AlliancecoreStrategic or Co-development PartnerCSAV operates container and bulk shipping routes through Hapag-Lloyd, which participates in THE Alliance, a global shipping alliance connecting South America to North America, Europe, and Asia.
• Instituto Comercial Marítimo Pacífico Sur (INCO)minorStrategic or Co-development PartnerCSAV Foundation partners with INCO on educational infrastructure projects including a multi-purpose court roofing project, virtual reality simulators for port operations room, and student mentorship programs.
• Liceo Juan Dante ParraguezminorStrategic or Co-development PartnerCSAV Foundation supports HVAC and refrigeration technical education through classroom implementation projects and student visits to port facilities.
• Escuela Padre André CoindreminorStrategic or Co-development PartnerCSAV Foundation partners with Escuela Padre André Coindre for sports facilities, Summer School programs, playground construction, and various educational initiatives benefiting hundreds of students.
• SOFOFAminorStrategic or Co-development PartnerCSAV participates in SOFOFA's 'Empresas Abiertas' initiative, opening offices to community visits and supporting industry engagement programs.
• Fundación del PacíficominorStrategic or Co-development PartnerCSAV maintains strategic alliances for dialogue and industry development through membership in Fundación del Pacífico.
• CAMPORTminorStrategic or Co-development PartnerCSAV is aligned with CAMPORT as part of its commitment to sustainable development goals and port community engagement.
• Hanseatic Global TerminalsminorStrategic or Co-development PartnerCSAV Foundation collaborated with Hanseatic Global Terminals Latin America - Inland Services to host San Antonio students during SOFOFA's 'Open Companies' event.
• KyklosminorStrategic or Co-development PartnerCSAV collaborated with Kyklos to host a sustainability fair at Padre André Coindre School in San Antonio.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Regional players

• PIL (Pacific International Lines): PIL is a Singapore-based container shipping line with strong intra-Asia and Asia–South America trade lane exposure. Comparable as a regional container carrier whose South America trade dynamics affect CSAV's underlying value driver.

Direct peers

• Hapag-Lloyd AG: Hapag-Lloyd is the world's fifth-largest container carrier and CSAV's primary investee. CSAV's NAV is overwhelmingly derived from its ~30% stake in Hapag-Lloyd, making it the most direct functional peer despite the holding-company relationship.
• Ocean Network Express (ONE): ONE is a major container carrier formed by Japanese shipping lines (NYK, MOL, K Line). Comparable as a THE Alliance member alongside Hapag-Lloyd, sharing slot-sharing economics and global network scale.
• Yang Ming Marine Transport: Yang Ming is a Taiwan-based container carrier and member of THE Alliance alongside Hapag-Lloyd. Comparable through direct alliance participation and exposure to Asia–Americas container shipping lanes.
• ZIM Integrated Shipping Services: ZIM is a global container shipping line publicly listed on NYSE. Comparable as a pure-play container shipping company whose earnings sensitivity to freight rates mirrors the dynamics driving CSAV's underlying Hapag-Lloyd exposure.
• Evergreen Marine Corporation: Evergreen is a Taiwan-based global container shipping line and a peer within THE Alliance alongside Hapag-Lloyd. Comparable through direct participation in the same alliance and exposure to the same container shipping cycle.

Emerging players

• Wan Hai Lines: Wan Hai is an Asia-focused container carrier. Comparable as a publicly listed container shipping peer whose market dynamics (rates, fleet utilization, Asia trade flows) overlap with CSAV's investee exposure.

Broad incumbents

• MSC (Mediterranean Shipping Company): MSC is the largest container line by capacity globally. Comparable as a direct competitor in the same global container shipping market that drives CSAV's underlying Hapag-Lloyd exposure.
• COSCO Shipping Holdings: COSCO is a major Chinese state-linked container carrier competing globally. Comparable as a major container line whose rates, alliance dynamics, and Asia–South America trade flows affect CSAV's investee, Hapag-Lloyd.
• A.P. Møller-Mærsk: Maersk is the global leader in container shipping and a member of competing alliance structures. Comparable because CSAV's value is driven by the same container shipping fundamentals (rates, volumes, fuel costs) that determine Maersk's earnings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/csav

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CSAV