COSCO SHIPPING Ports inks agreement to operate Belgian terminal

The port terminal operator arm of China’s COSCO Shipping inked a concession for the operation of CSP Zeebrugge Terminal, and a memorandum of understanding with CMA CGM for the French shipping company’s initial investment of 10 percent in the terminal.    COSCO SHIPPING Ports, the port terminal operator arm of China’s COSCO Shipping, inked a concession for the operation of CSP Zeebrugge Terminal at the Port of Zeebrugge, as well as a memorandum of understanding (MoU) with CMA CGM Group for the French shipping company’s initial investment of 10 percent in CSP Zeebrugge.
   “Today we are proud to announce that CSP Zeebrugge is now in our portfolio. There are many reasons why we choose Zeebrugge as our first gateway port in Northwest Europe. With its prime location and water depth, it provides ideal conditions for mega vessels. We plan not only to develop CSP Zeebrugge into a maritime crossroads, but also an ultra-logistics platform to serve continental Europe and the British Isles,” said Zhang Wei, vice chairman and managing director of COSCO SHIPPING Ports. “With this plan, we will work closely with the Port of Zeebrugge on the maritime logistic zone. Furthermore, we are delighted to have CMA as our partner. With the cooperation of CMA, we are confident that we not only can deliver high quality services, but also capture the economic opportunities emerging around the Port of Zeebrugge.”
   Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of Belgium, Qu Xing, said the signing set a precedent for relations and trade between China and Belgium. In fact, COSCO SHIPPING is a contributor to the strengthening of Belgian-Chinese trade, said Kris Peeters, vice prime minister and minister for work, economic affairs and consumer affairs for Belgium. “During the first nine months of 2017, our exports to China increased by 20 percent, reaching 6 billion euros (U.S. $7.4 billion),” Peeters said. “China is getting more significant as a trading partner. Last year’s opening of a direct train connection between the port and the city of Daqing in China already testified to this fact.”
   As the second largest port in Belgium, Zeebrugge maintains close proximity to Hamburg and Le Havre, and features a network of road and rail connections to all countries within Continental Europe and to other ports in Northwest, Central and Eastern Europe.
   “As one among the leaders in the shipping industry, we are enthusiastic to be part of Zeebrugge Terminal’s future at the invitation of our strategic partner COSCO SHIPPING Ports,” said Farid T. Salem, executive director of CMA CGM. “The terminal will be part of our global strategy, and we are pleased to become a partner of COSCO SHIPPING Ports in this terminal, and to contribute to its success.”
   Financial details on neither agreement were disclosed.