CMA CGM announce that it acquired 10% equity interest in CSP Zeebrugge Terminal from Cosco's subsidiary China Shipping Ports. CMA CGM acquired the 10% equity interest through its wholly-owned subsidiary CMA Terminals.
CMA CGM is the major client of CSP Zeebrugge and accounted for one third of the total throughput of the terminal in 2017. The partnership between CMA CGM and Cosco Shipping Ports aims to further development 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 sits on an beneficial geographic position in Europe and is a transportation hub for traffic globally. Zeebrugge is also easily connected to other European countries via a network of road and rail connections.
Farid T. Salem, Executive Officer of the CMA CGM Group, mentioned:\
"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."