Worldwide shipping Group CMA CGM acquires from China Shipping Ports Development Co. Limited (Cosco Shipping Ports) a 10% equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminals. 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.
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 should foster the development of CSP Zeebrugge into a major hub port in Northwest Europe.
The Port of Zeebrugge enjoys a strategic geographic position in Europe and is a transportation hub for traffic everywhere in the world. Moreover, Zeebrugge is easily connected to other European countries through a dense network of road and rail connections, offering the CMA CGM Group’s customers many opportunities.
Farid T. Salem, Executive Officer of the CMA CGM Group, states: “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. This investment is in line with the Group’s global strategy and will strengthen CMA CGM’s position in the deep-sea container trades.”