It’s reported that Chile’s CAP announced that its net earnings and EBITDA in the first quarter of this year totaled US$45.1 million and US$137.2 million, slumping by 46.4% and 31.5% year on year respectively. CAP stated that the labor strikes at certain ports in Chile made shipments delay.

Also, the profits were impacted by lower iron ore stocks. Meanwhile, the company’s sales decreased substantially to US$486.6 million in the first quarter of this year from US$593.1 million in the same period of a year ago.