CMA CGM buys stake in COSCO terminal
Purchase between maritime lines of the same alliance
The French container line CMA CGM, through the subsidiary CMA Terminals, agreed to acquire a 10% stake in shares of CSP Zeebrugge Terminal of COSCO China Shipping Ports Development.
CMA CGM represented one third of the total performance at CSP Zeebrugge in 2017, and says that the strategic partnership with Cosco should encourage the development of the port in an important central port in northwestern Europe.
Farid T. Salem, CEO of CMA CGM Group, commented: “Through this investment, we are pleased to develop its strategic partnership with Cosco Shipping Ports and be part of the future of Zeebrugge Terminal. Zeebrugge enjoys a central location in Europe, which, combined with our service offerings and the customer-focused strategy, will offer many new opportunities to the Group’s clients, which is in line with the Group’s global strategy and will strengthen the position of the martíma line in the exchanges of containers on the high seas “.
Port and logistics strategy of CMA CGM
Zeebrugge offers a network of road and rail connections across Europe and is very well linked to the momentum of our shipping line in the logistics sector, which recently approved to acquire a 25% stake in the international freight forwarding agent CEVA Logistics.
Previously, Cosco assumed 100% ownership of the terminal in September 2017, having acquired the 76% stake of the Danish APM Terminals of Maersk.
The above mentioned shipping lines belong to the OCEAN Alliance which is a vessel sharing agreement that will solidify itself by this strategic move in a horizontal shared integration that will increase involvement among them and benefit from the current marketshare participation in the terminal.
