APM Terminals and Hong Kong-based COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”), a subsidiary of China COSCO Shipping Corporation Limited (“COSCO SHIPPING”), have reached an agreement to acquire 100% of APM Terminals Zeebrugge’s shares.
COSCO aspired to set up a central European hub. The group wanted to invest in a port with sufficient capacity, a good maritime access, a high productivity and a beneficial location toward the markets. Zeebrugge fulfilled all of these terms.
COSCO is a partner in the Ocean Alliance, together with CMA CGM, Evergreen and OOCL. The latter was recently purchased by COSCO.
“COSCO Shipping Ports’ ambition to invest in our port is a strong signal for Zeebrugge. The COSCO Group takes control of the APM Terminal, a transfer of shares from one international group to another. The link between COSCO Shipping Ports and COSCO Shipping Lines is definitely an opportunity to increase the container traffic in Zeebrugge. COSCO Shipping Ports confirms to have strong commercial support for this operation from the liner company.” Joachim Coens, CEO Port of Zeebrugge