China Shipping Terminal takes a stake in APM Terminals Zeebrugge

China Shipping Terminal, a subsidiary of China Shipping Container Lines (CSCL) has signed an MoU (Memorandum of Understanding) with APM Terminals confirming its intention of purchasing a 24% share of APM Terminals Zeebrugge. The transaction is scheduled to be finalised by the end of June 2013.

APM Terminals which currently holds a 75% majority share in APM Terminals Zeebrugge will remain the majority owner with Shanghai International Port Group (SIPG) which acquired a 25% share in the facility in 2010.

Shanghai-based CSCL, established by the China Shipping Group in 1997, is now the world’s ninth largest shipping company with 141 vessels, representing an overall capacity of 572,000 teu while China Shipping Terminal Development has holdings in 13 port facilities in mainland China and in the US ports of Los Angeles and Seattle and Damietta in Egypt. Total throughput, measured by equity share for China Shipping Terminal was 7.8m teu in 2011.