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Chilean line CCNI eyes possible merger

The second largest Latin American shipping line Compania Chilena de Navegacion Interoceanica (CCNI) said it was evaluating partnership with other liners.

Michele Labrut, Americas Correspondent

April 29, 2014

1 Min Read
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“We have come to the conclusion that the future is to get associated or die,” said CCNI president and chairman Beltran Urrenda Salamanca. “The company does not rule out the possibility of cooperation agreements with other players in order to achieve greater stability both in fleet and in service coverage.”

He said the shipping line was already in talks with a, “German shipping company we have been working with for the past 15 years, Hamburg Sud. With them, we are exploring to do things together, increase volume to add up [to that of] other consortia.”

CCNI reported $841.47m in revenue sin 2013, down from $910.05m in 2012, with net profit also dwindling to $0.16m from $9.32m the previous year.

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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