French container transportation and shipping company, CMA CGM one of the world’s leading shipping groups has recently announced the acquisition of a 10% equity interest in CSP Zeebrugge Terminal NV (“CSP Zeebrugge”),through their wholly-owned subsidiary CMA Terminals.
The acquisition was made from CHINA SHIPPING Ports Development Co. Limited (“COSCO SHIPPING Ports”), a wholly-owned subsidiary of COSCO Group. CMA CGM is a key client of CSP Zeebrugge and accounted for one third of the total throughput last year.
Due to the strategic partnership between CMA CGM and COSCO SHIPPING Ports, the development of CSP Zeebrugge will speed up as it aims to become a major hub port in Northwest Europe. In November 2017 COSCO SHIPPING Ports acquired the remaining 76% equity interest in CSP Zeebrugge terminal and proceeded to make it a wholly-owned subsidiary of the company.
Due to the strategic geographic location in Europe, the Port of Zeebrugge is an attractive transportation hub for shipping throughout the world. In addition Zeebrugge has easy connections to other European countries via a large network of road and rail connections, providing customers of CMA CGM many options.
CMA CGM Group Executive Officer, Farid T. Salem stated, “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.”