French shipping giant CMA CGM has announced the acquisition from China Shipping Ports Development (Cosco Shipping Ports) of 10 per cent in CSP Zeebrugge Terminal 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," said the CMA CGM statement.
Cosco Shipping Ports completed the acquisition of the remaining 76 per cent 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, CMA CGM said.
Zeebrugge is connected to other European countries through road and rail connections, offering the CMA CGM customers many opportunities, the company said.
Said CMA CGM executive officer Farid Salem: "This investment is in line with the group's global strategy and will strengthen CMA CGM's position in the deep-sea container trades."
Sources:Schednet
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