COMPANIA Sudamericana de Vapores SA (CSAV) has said it expects to ship 2.92 million TEU in 2010, 63 per cent higher than in 2009.

In consequence of the statement, its stock has risen to its highest in 19 months after disclosing higher than expected estimates for the year.

"CSAV also said in that presentation that it expects a profit in the second quarter of 2010," Hernan Guerrero, head of research at BBVA Corredores de Bolsa SA told Bloomberg. "The company is finally breaking the trend of several quarters of losses."

Source: shipping online