CSAV receives new vessel and approaches its target of having 30% own fleet in the first half of 2012

Tucapel is the fifth of a series of seven vessels that the company ordered to be built as part of its vessel acquisition plan, all baptized with the names of Chilean rivers.

The acquisition of new vessels is key to the restructuring the company has made and which contemplated, among other things, a redesign of the services and routes, joint operating agreements and the increase in its own fleet.

Santiago, January 30, 2012.- The port of Busan (island of Geoje) in South Korea, will be the scene for Compañía Sud Americana de Vapores (CSAV) to receive its new containership tomorrow: Tucapel. This is the fifth of a series of seven ships that the company ordered to be built by the shipbuilder Samsung Heavy Industries, as part of its ship acquisition plan.

Tucapel is 300 meters long, 46 m. in beam and has a capacity of 8,000 TEUs, the largest owned by CSAV. It is equipped with the latest technology, designed to operate with greater efficiency and reduce environmental impact.

It has an engine with an electronic fuel-injection system that reduces consumption and operates with optimum combustion efficiency, thus reducing the emission of gases into the environment. It also has turbocompressors adjusted for small loads, thus permitting low-speed operations without limiting the engine’s maximum power.

In addition, it has state-of-the-art technology for meteorological, communication and navigation information, in order to optimize the planning of routes and ensure the general safety of the ship.

Tucapel is the fifth of a series of seven containerships of the same characteristics that the company bought as part of its acquisition plan and which were baptized with names of Chilean rivers. This ship thus accompanies the Teno, Tubul, Témpanos and Torrente which were received between August and November 2011. The two remaining ships, Toltén y Tirúa, will be received during the first half of 2012 to complete the fleet.

30% of own fleet by mid 2012

With these seven 8,000 TEU ships, the company expects to increase its capacity and efficiency in the operation of its line services.

This ship acquisition is key to the restructuring the company has carried out. This  contemplated, among other things, a redesign of the services and routes, determining the suspension of some traffics and concentrating on those where they are most competitive, joint operating agreements with the world’s principal shipowners, plus the increase in own fleet.

At the end of 2010, when the company operated with a fleet of close to 187 ships, own ships represented only 7% (9 vessels). But this has changed: it currently has 15 ships and will complete 17 by the end of the first half of 2012, at which time this will mean 30% of own fleet for CSAV, a figure in line with the reality of the shipping industry, which is over 40%.