CMA CGM takes 10% stake in CSP Zeebrugge Terminal

CMA CGM takes 10% stake in CSP Zeebrugge Terminal

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.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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