France-based shipping group CMA CGM has announced the acquisition of 10 per cent equity interest in CSP Zeebrugge Terminal NV from China Shipping Ports Development, a wholly-owned subsidiary of Cosco Group, 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 is designed to foster the development of CSP Zeebrugge into a major hub port in Northwest Europe.
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.
“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," said Farid Salem, executive officer of the CMA CGM Group.
"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," Salem added. "This investment is in line with the Group’s global strategy and will strengthen CMA CGM’s position in the deep-sea container trades.”