facebook_pixel
Ports and Terminals

APM Terminals to Sell Zeebrugge Shares to COSCO Shipping Ports

APM Terminals to Sell Zeebrugge Shares to COSCO Shipping Ports
Danny Gill

APM Terminals have announced that they will be selling off their 76 percent shareholding in Zeebrugge Container Terminal to Hong Kong-based COSCO Shipping Ports Limited. The acquisition will bring COSCO SHIPPING Ports’ shareholding in the 1 million TEU annual capacity terminal in Belgium’s second-busiest container port to 100%. As part of the transaction, APM Terminals has proposed to buy back 25% of the Shanghai International Port Group (“SIPG”) shares and will then sell them together with APM Terminals’ own 51% stake in Zeebrugge to COSCO SHIPPING Ports. Further details of the transaction have not been disclosed which is subject to customary regulatory approvals – expected to take three to four months for completion.

APM Terminals opened the Zeebrugge terminal in October 2006 and later sold a 24% share to COSCO SHIPPING Ports in 2014. COSCO SHIPPING and its alliance partners have become the major customers of the port with a long term interest to grow port volumes. “Our decision to divest Zeebrugge reflects our portfolio strategy to focus on long term core assets. We believe COSCO SHIPPING Ports is the right long-term owner of the Zeebrugge facility and will continue to grow the port for customers, employees and the Zeebrugge stakeholder community,” stated Wim Lagaay, Head of APM Terminals USA and Europe Portfolio, based in The Hague, Netherlands.

COSCO SHIPPING operates the world’s largest shipping fleet by tonnage. COSCO SHIPPING Ports is a co-shareholder and strategic partner in several operations within the APM Terminals global terminal network, including the Suez Canal Container Terminal, in Egypt, and Qingdao Qianwan Container Terminal (QQCT) and Guangzhou South China Oceangate Container Terminal (GOCT) in China. In October 2016, COSCO SHIPPING Ports acquired a 40% share in the deep-water APM Terminals Vado terminal project under construction in Vado, Italy.

Ports and Terminals
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ports and Terminals

GPA Approves Projects to Expand Rail and Gate Capacity

Logistics ManagerNovember 17, 2017

Hutchison Ports Assumes Operation of Ahmed Bin Rashid Port in the Emirate of Umm Al Quwain

Danny GillNovember 15, 2017

Port of Savannah Achieves 32 Percent Growth in October

Logistics ManagerNovember 10, 2017
New Owendo International Port, Gabon

Gabon Inaugurates Port of Owendo New Terminal

Logistics ManagerNovember 10, 2017
Port of Long Beach Sets Cargo Record in October

Port of Long Beach Sets Cargo Record in October

Danny GillNovember 10, 2017

Container Throughput in Rotterdam Maintains Strong Growth Rate

Logistics ManagerNovember 3, 2017
Sahathai Terminal Prepares for Initial Public Offering

Sahathai Terminal Prepares for Initial Public Offering

Danny GillOctober 31, 2017
Port Authorities of Georgia and Virginia File East Coast Gateway Terminal Agreement

Port of Savannah Moves One Million TEUs in First Quarter

Danny GillOctober 20, 2017
Wilhelmshaven Welcomes World’s Largest Container Ship

Wilhelmshaven Welcomes World’s Largest Container Ship

Danny GillOctober 20, 2017