Chinese investing in Zeebrugge terminal
Shanghai International Port Group (SIPG) has acquired a 25 percent share of APM Terminals Zeebrugge for 27.16 million euros ($33.7 million), APM Terminals said Friday.
APM retains a 75 percent share in the terminal, which has a capacity of 850,000 TEUs. Located in Bruges, the terminal handled 700,000 TEUs in 2009.
China Securities Journal reported last year that SIPG planned to acquire a 40 percent stake in the Belgian terminal last year, but delayed the acquisition because of the slowdown in the shipping industry.
“Today marks a milestone in the relationship between the Shanghai International Port Group and APM Terminals as we celebrate that we have taken our relationship and mutual commitment to a new phase,” said Martin Gaard Christiansen, APM Terminals chief executive officer for the Asia-Pacific Region.
APM Terminals and SIPG are also co-investors in the Shanghai East Container Terminal in the Port of Shanghai. APM has a 49 percent stake in the terminal, which has a capacity of 4 million TEUs. Shanghai is forecast to overtake Singapore as the world’s busiest container port within the next few years, APM said.
Chinese investing in Zeebrugge terminal
