CMA CGM Buys Stake in CSP Zeebrugge Terminal
French container carrier CMA CGM announced Friday it has acquired from CHINA SHIPPING Ports Development Co. Limited, a wholly-owned subsidiary of COSCO Group, a 10 percent equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminals.
CMA CGM is currently the major client of the Belgian container terminal and accounted for one third of CSP Zeebrugge's total throughput in 2017.
COSCO SHIPPING Ports completed the acquisition of the remaining 76 percent equity interest in CSP Zeebrugge terminal in November 2017 and made it a wholly-owned subsidiary.
The Port of Zeebrugge is a transportation hub that is easily connected to other European countries through a dense network of road and rail connections.
Farid T. Salem, Executive Officer of the CMA CGM Group, 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.”