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CMA CGM takes interest in Zeebrugge

PixabayCOSCO SHIPPING Ports Limited has signed an agreement with CMA CGM Group on 19 July 2018 that meant CMA CGM acquired 10% equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminal.

The partnership with CMA CGM aims to foster the development of CSP Zeebrugge into a major hub port in Northwest Europe. COSCO SHIPPING Ports had already owned part of the terminal, before completing the acquisition of the remaining 76% equity interest in CSP Zeebrugge Terminal in November 2017 and made it a wholly-owned subsidiary.

The Company states its dedicated to the development of the Terminal by enhancing the management and services of the Terminal, and forming partnerships for the long-term development of the Terminal.

In May 2018, the Company made an alliance with the Port of Zeebrugge, which will see the Port authority of Zeebrugge take 5% stake in CSP Zeebrugge, in which it  plans not only to develop the Terminal into a strategic hub port but also an ultra-logistics platform to serve continental Europe and the British Isles. COSCO SHIPPING Ports will work closely with the Port of Zeebrugge on the Maritime Logistic Zone.

Mr. 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 success example for the future cooperation among members of shipping alliances and Terminals.

"CSP Zeebrugge is the first Terminal in Northwest Europe in which COSCO SHIPPING Ports holds a controlling stake, which is a part of our effort in globalization and building a global Terminal network with high efficient and cost-effective services to serve shipping companies. We will continue to strengthen the cooperation with members of Ocean Alliance and maximize the synergies among us.“

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