Euroandina de Inversiones S.A. was incorporated on 24 June 1983. –now Grupo Empresas Navieras S.A.– as a closely held company to act preferably as an investor of stocks, bonds and real estate.

Subsequently, and due to the division of Interoceánica, in 1989, we started controlling a new company, called Inversiones Cabo Froward S.A., only asset of which was 99.95% of Agencias Universales S.A., company that provides services as an important ship agent since 1960.

The company changed its name to EMPRESAS NAVIERAS S.A., and decided to increase the equity capital, incorporating new stockholders and to register in the Registry of Securities as publicly held company. Thus, by the end of said year, the company was controlling approximately 69% of Compañía Chilena de Navegación Interoceánica S.A. and of Inversiones Cabo Froward S.A.

The company consolidated as openly held company, starting a plan to allow being seen as a company with investments in fully operational companies with clear goals.

Merge between Inversiones Cabo Froward S.A. and subsidiary Agencias Universales S.A., resulting in a fully operational new Agencias Universales S.A. For the companies to have clear objectives and specialization, Agencias Universales S.A. split in two; one continued as ship agent and providing cargo services; the other, as investor in port infrastructure. The first one continued with the name Agencias Universales S.A. and the new company was named Portuaria Cabo Froward, S.A., which owns a port terminal at the Coronel Bay, destined to massive cargoes, with an important participation in Portuaria Puchoco S.A., of the same line of business as Froward.

Merge between Portuaria Cabo Froward S.A. and its subsidiary, Portuaria Puchoco S.A., and the name of the first one was kept. This has allowed GEN not only to control large companies, all openly held companies, which trade their stocks at the Stock Market in Chile, but also to efficiently face the strong national and international competition and market issues.

GEN purchased 35% of Antofagasta Terminal Internacional S.A. and formed, together with other partners, Sociedad Terminal Puerto Arica S.A., which marked its start in the business of franchised port terminals.

GEN acquired 15% of Iquique Terminal Internacional S.A., and was awarded the Concession for the Docking Front of the Port of Talcahuano for 30 years, establishing the company Talcahuano Terminal Portuario S.A. (PTT).

GEN created two new subsidiaries: Angol Navigation Ltd. and Arauco Navigation Ltd. The purpose of each subsidiary is to purchase and exploit, by means of rental, of a container carrier vessel per subsidiary, with capacity of 9,000 TEUs each, built at the Hanjin Heavy Industries & Construction Co. Ltd. shipyards.

To date, the company controls or has direct participation in 83.23% of Compañía Marítima Chilena S.A., 81.07% of Agencias Universales S.A., 91.92% of Portuaria Cabo Froward S.A., 35% of Antofagasta Terminal Internacional S.A., 99% of Portuaria Mar Austral S.A., 99.99% of Talcahuano Terminal Portuario S.A., 75% of Angol Navigation Ltd. and 75% of Arauco Navigation Ltd.