Wednesday , 18 September 2019
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CMA CGM acquires stake in Cosco’s Zeebrugge facility
Cosco Shipping Ports acquired the terminal in November 2017

CMA CGM acquires stake in Cosco’s Zeebrugge facility

CMA CGM has acquired a 10% stake in Cosco Shipping Ports’ CSP Zeebrugge Terminal through its subsidiary, CMA Terminal.

CMA CGM is CSP Zeebrugge’s main customer, accounting for one-third of facility’s throughput in 2017.

Zhang Wei, vice chairman and managing director of Cosco Shipping Ports, said: “The 10% investment by CMA CGM in CSP Zeebrugge enables the terminal to further secure the volume from CMA CGM and Ocean Alliance, and enhance its operational efficiency. The strategic partnership sets a successful example for the future cooperation among members of shipping alliances and terminals.”

The Port Authority of Zeebrugge acquired a 5% stake in the facility in May 2018, and Cosco Shipping Ports has vowed to develop CSP Zeebrugge into a strategic hub port and also develop an ultra-logistics platform to serve continental Europe and the British Isles. The Chinese company will work closely with the Port of Zeebrugge on a Maritime Logistics Zone.

The Hong Kong-based operator completed the acquisition of CSP Zeebrugge in November 2017 when it acquired the remaining 76% stake in the facility, and the terminal is the first in Northwest Europe in which the company holds a controlling stake.

Wei said: “[The acquisition of CSP Zeebrugge] is a part of our effort in globalisation and building a global terminal network which offers highly efficient and cost-effective services to shipping companies.”