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CMA CGM takes 10 pc stake in CSP Zeebrugge Terminal
CMA CGM, a leading worldwide shipping Group, has announced the acquisition, from CHINA SHIPPING Ports Development Co. Ltd, a wholly-owned subsidiary of COSCO Group, of 10 per cent equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminals.
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, said a release.
COSCO SHIPPING Ports completed the acquisition of the remaining 76 per cent equity interest in CSP Zeebrugge terminal in November 2017 and made it a wholly-owned subsidiary.
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.
Mr Farid T. Salem, Executive Officer of the CMA CGM Group, said: "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’s 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."