French container line CMA CGM, via subsidiary CMA Terminals, has agreed to acquire a 10% equity interest in CSP Zeebrugge Terminal from Cosco’s China Shipping Ports Development.
CMA CGM accounted for a third of the total throughput at CSP Zeebrugge in 2017, and says the strategic partnership with Cosco should foster the development of the port into a major hub port in Northwest Europe.
Farid T. Salem, executive officer of CMA CGM Group, commented: “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 to the Group’s customers. This investment is in line with the Group’s global strategy and will strengthen CMA CGM’s position in the deep-sea container trades.”
Zeebrugge offers a network of road and rail connections through Europe and ties nicely in with CMA CGM’s push into the logistics sector, which saw it recently agree to acquire a 25% stake in CEVA Logistics.
Cosco took 100% ownership of the terminal in September 2017, when it acquired a 76% stake from Maersk’s APM Terminals.