The discontinued operations correspond to the operational, financial and corporate restructuring implemented by the shipping line since the second half of last year (2011), for which a provision of US$57m was made.
Operating margins remained negative, although the operating loss reduced from US$175m in Q1-2012 to US$62m in the Q-2012. Cumulative losses have reached US$2.08bn since 2009, with the company being forced to raise US$2.7bn through a multiple series of capital injections since July of that year.
The company has already cut its total operated capacity from a peak of 588,000 teu in March 2011 to only 260,000 teu currently. CSAV’s global capacity ranking has dropped from 7th to 20th over the last 18 months.
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