CSAV CEO Oscar Hasbun has been appointed chairman of Chilean tug group SAAM.
The company said the executive replaces Felipe Joannon Vergara, who served from 2014.
Jean-Paul Luksic Fontbona will remain vice-chairman of the board, while Hasbun will continue in his primary role at CSAV, which still has car carriers and logistics interests after merging its containership business with Germany's Hapag-Lloyd.
Hasbun has been on the SAAM board since 2015 and is also a director of Hapag-Lloyd.
SAAM announced it had made net profit of $43m in the first half.
"This figure was strongly impacted by a non-recurring gain of $26.9m, mainly from the sale of its minority interest in Tramarsa," it said.
The towage division posted revenue of $128.1m and EBITDA of $42.9m.
Results were affected by a decrease in offshore contracts in Mexico, exchange rates in Brazil and a reduction in special services in Uruguay and Chile.
