CSAV BUYS MONTEMAR/PAN-AMERICAN

   Compania Sud-Americana de Vapores, Chile’s fast-growing shipping line,
is acquiring Uruguay’s shipping company Montemar.
   Montemar, which trades in the East Coast of South America/U.S. East
Coast trade under the name Pan-American Independent Line, confirmed the
sale.
   Both Montemar and CSAV run container services in the East Coast of South America trades to and from the U.S. East Coast and northern Europe.
   Montemar is the latest South American niche carrier to be bought by
CSAV. The Chilean carrier has already taken over Libra and Euroatlantic
Container Line and set up a Brazilian shipping line called BrazTrans.

FreightWaves Staff