Cosco takes full control of LBC Shanghai Shipping Terminal

Cosco takes full control of LBC Shanghai Shipping Terminal

China Cosco Shipping has taken full control of LBC Shanghai Shipping Terminal through the acquisition of 70% equity interest of the company from its Belgian joint venture partner LBC Tanker Terminals.

Cosco believes the acquisition will form an important part of its strategy to development liquid cargo storage business and create synergies with its shipping operations.

LBC Shanghai Shipping Terminal, established by Cosco (30%) and LBC Tanker Terminals (70%), offers chemical storage services at Shanghai’s Waigaoqiao port area. It currently operates 62 tanks with total capacity of 74,200 cu m.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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