According to CSAV’s financial results presentation, “The loss of US$ 201.4 M in H1 2017 is mainly explained by a dilution accounting loss of US$ 167.2 M registered in CSAV as a one-off effect due to the merger of Hapag-Lloyd AG (‘HLAG’) and United Arab Shipping Company (‘UASC’), successfully completed in May. Excluding this effect, its two business units reported a significative [sic] improvement during the second quarter of 2017 in comparison to both previous quarter and previous year. In Q2 2017, HLAG reported a profit of US$ 17.6 M, an improvement of US$ 128.5 M compared to the same period in 2016. This performance improvement in the container shipping segment was impacted by the dilution loss, presenting a net income loss for the quarter. The other transport services segment reports a profit for a fifth consecutive quarter, its first H1 with positive results in the last three years.”
The full presentation is available at CSAV.
Source: CSAV (LF)
Articles on this topic can be found at The Loadstar and ShippingWatch.
Source: ShippingWatch