CMA CGM, a leading worldwide shipping Group, is pleased to announce the acquisition from China Shipping Ports Development Co. Limited, a wholly-owned subsidiary of COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”), of 10% equity interest in CSP Zeebrugge Terminal NV (“CSP Zeebrugge”), through its wholly-owned subsidiary CMA Terminals.
CMA CGM is currently the major client of CSP Zeebrugge and accounted for one-third of the total throughput of the terminal in 2017. The strategic partnership between CMA CGM and COSCO SHIPPING Ports should foster the development of CSP Zeebrugge into a major hub port in Northwest Europe.
COSCO SHIPPING Ports completed the acquisition of the remaining 76% equity interest in CSP Zeebrugge terminal in November 2017 and made it a wholly-owned subsidiary.
The Port of Zeebrugge enjoys a strategic geographic position in Europe and is a transportation hub for traffic everywhere in the world. Moreover, Zeebrugge is easily connected to other European countries through a dense network of road and rail connections, offering the CMA CGM Group’s customers many opportunities.
Farid T. Salem, Executive Officer of the CMA CGM Group, stated:“Through this investment, CMA CGM is pleased to develop its strategic partnership with COSCO SHIPPING Ports and to be part of Zeebrugge Terminal’s future. Zeebrugge enjoys a central location in Europe which, combined with CMA CGM service offering and customer-centric strategy, will offer many new opportunities to the Group’s customers. This investment is in line with the Group’s global strategy and will strengthen CMA CGM’s position in the deep-sea container trades.”
Source: Maritime Shipping News