CSAV reliance on chartered capacity evident

CSAV reliance on chartered capacity evident    A study of the container charter market released this week by maritime consultant Dynamar underscores the extent to which Chilean carrier CSAV has used chartered capacity to rocket up the table of the world's largest containership operators.
   CSAV charters more capacity than all but the world's three biggest container lines (Maersk Line, Mediterranean Shipping Co. and CMA CGM), and has a 7.2 percent share of the chartered capacity market. That's far ahead of the fifth largest charterer, APL, which has a 5.8 percent share of chartered capacity.
   More than 90 percent of CSAV's fleet is chartered, far and away the highest proportion of borrowed vessels of any of the world's top 20 carriers. Only APL and Hyundai Merchant Marine, at 71 percent, even come close.
   In fact, the profile of CSAV's chartered fleet fits more with that of intra-Asia carriers TS Lines and HDS Lines, which also charter more than 90 percent of their capacities. Globally, 48 percent of the world's container fleet is chartered (or not owned by its operator), and most of the top 20 lines charter within a range of 40 to 65 percent of their capacity.
   Outliers on the other side of the equation are OOCL, NYK Container Line, PIL and Wan Hai, which own 76, 75, 62 and 62 percent of their fleet capacity, respectively.