The company said that the result of the third quarter is explained mainly by the complex scenario which the shipping industry still faces, which shows low freight rates compared to the second quarter of this year and particularly compared to the same quarter of 2013. In the third quarter of 2014, freight rates fell by 6.9% compared to the same period of the previous year, according to the container business rate index published by the company.However, as it has occurred during the last quarters, CSAV obtained further improvement in its unit operating costs.
Despite the increase in transported volume –which rose by 0.6% compared to the second quarter of this year and 2.8% compared to the same quarter of 2013- the company reduced its operating costs during both comparative periods, CSAV said in a statement.
“In the context of a complex freight rate scenario for the industry, our company continues to show a significant improvement in its cost structure, which allows us to absorb part of the freight reduction,” CSAV ceo Oscar Hasbun said.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
