New rights issue

New rights issue CSAV raises $500 million
   Chilean container shipping company CSAV said last week 85 percent of a new rights issue had been subscribed and paid, producing a sum of $430 million.

CSAV to pull Asia/Med loop
   Liner carrier CSAV said Monday it would suspend a standalone service linking the Far East and Mediterranean due to ‘the unfavorable economic environment affecting the trade.’
   Freight rates from Asia and Europe are reportedly well below sustainable levels even as the industry enters the start of peak season.