Chilean shipowner CSAV has returned to profit in the third quarter after merging its containership operation with Hapag-Lloyd.

The company said net earnings to 30 September were $7.78m, against a loss of $35.15m in 2014.

Revenue grew to $35.7m versus $32.6m the year before, while its share of profits in associates rose to $8.91m from zero last year.

In 2014, it booked a loss of $42.69m