Hapag-Lloyd it will start its annual Cherry Express service, which will link Valparaiso with Asian ports including Hong Kong, Shanghai and Busan, among others. The shipping company explained that this is a service focused on the refrigerated transportation of cherries to Southeast Asia, with a fleet of 13,400-reefer containers.
Chilean power utility Colbun SA recorded a net profit of $152.3 million for the nine months through September 2020, down 16% year-on-year, on higher non-operating losses associated to bond refinancing issuance costs. In the third quarter alone, net profits grew by 14% to $62.2 million as non-operating losses decreased, Colbun said it the latest earnings release.
Chile's rolling three-monthly unemployment rate eased for a second consecutive month to 12.3% in July through September, the government said. The improvement in the unemployment rate beat the 12.9% prediction of the market, but remained above the same period the previous year as the coronavirus pandemic continued to weigh on the economy.
Chilean manufacturing ticked up 5.3% and commercial activity was up by 6.3% in September, though the country’s copper output was down 0.8% at 484,768 tonnes, the government statistics agency INE said. INE said the manufacturing uptick was due to a 7.7% year-on-year increase in the production of food products, primarily pork, for the country’s annual independence celebrations in September. The production of alcoholic and non-alcoholic drinks also spiked.
Chile's State-owned miner Codelco, the world's largest copper producer, reported a 86% increase in its profit for the first nine months of the year on Friday, to $1.124-billion, amid an increase in production. The company, which turns over all its profits to government coffers, said production rose 4% year-on-year to 1.165-million tonnes in the first nine months.