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CMA CGM Bought 10% Stake in Zeebrugge Terminal of COSCO SHIPPING Ports

Date:2018-07-31 Read times: font size:[ L M S ]

On July 20, COSCO SHIPPING Ports Limited (CSP) announced that it signed an agreement on July 19, 2018 with CMA CGM, which bought a 10% stake in CSP’s Zeebrugge Terminal via its subsidiary CMA Terminal.
As a major client of the Zeebrugge Terminal, CMA CGM contributed nearly one third of the terminal’s total container throughput in 2017. Thanks to its strategic alliance with CMA CGM, CSP is better placed to build the Zeebrugge Terminal into a hub in northwestern Europe. The two sides will deepen cooperation and create synergy between terminal and fleet.
In November 2017, CSP acquired the remaining 76% shares of Zeebrugge and took full control of the terminal. To promote its long-term development, CSP has made strategic plans, increased resource investment and improved terminal management and service levels while introducing strategic partners. In May 2018, the company took the initiative to establish a strategic alliance with the Zeebrugge Port Authority. The two sides planned to build the terminal into a strategic hub as well as a major platform providing diversified logistics services to the European continent and the British Isles. Taking this opportunity, CSP has maintained all-round close cooperation with the Zeebrugge Port Authority on shipping logistics.

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