Vapores Hires HSH Corporate Finance

Chile’s Cia Sudamericana de Vapores has hired HSH Nordbank subsidiary HSH Corporate to advise on a new business plan aimed at dealing with a downturn in global shipping. The bank will be evaluating a possible sale of non-core assets and contract renegotiations among other cost-cutting measures, Vapores says. Revenue for 2008 totaled $4.9bn, up from $4.2bn in 2007. Meanwhile, assets for 2008 added up to $1.9bn, down from $2.0bn in 2007.