Hong Kong, 25 May 2018 – COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports” or “CSP” or the “Company”, SEHK: 1199), the world’s leading container ports operator, today announced that the Port of Zeebrugge, the port authority of the Zeebrugge port, has signed a sale and purchase agreement with the Company’s subsidiary for the strategic investment of 5% stake in CSP Zeebrugge Terminal NV (“CSP Zeebrugge”).
CPS Zeebrugge became a wholly owned subsidiary of CSP in November 2017 after the Company acquired 76% stake from the previous owner. As the second largest port in Belgium, the Zeebrugge port enjoys favourable geographical position. CSP Zeebrugge is close to Hamburg and Le Havre and is within a short distance of Great Britain. Being a transportation hub for traffic in all directions, CSP Zeebrugge has a good network of road and rail connections to all countries of Continental Europe, and to other ports in Northwest, Central and Eastern Europe. In addition, Zeebrugge port is a natural deep-water harbour and is capable of satisfying the needs of mega-vessels. CSP Zeebrugge is the first terminal in Northwest Europe in which COSCO SHIPPING Ports holds a controlling stake and will facilitate the Company in establishing its major hub ports and global strategic focal point.
Prior to the strategic investment made by the Port of Zeebrugge, a signing ceremony was held in Brussels in January 2018 between the two parties for the concession terms of CSP Zeebrugge Terminal. COSCO SHIPPING Ports believes that the strategic investment by the Port of Zeebrugge in CSP Zeebrugge should help deepen the cooperation between the two parties. The strategic partnership should further enhance the terminal services by providing more efficient and high-quality services to shipping companies and capture the economic opportunities emerging around the Port of Zeebrugge.
Furthermore, it is also the will of both companies in developing CSP Zeebrugge into not only a maritime crossroads but also an ultra-logistics platform to serve continental Europe and the British Isles. COSCO SHIPPING Ports will work closely with the Port of Zeebrugge on the Maritime Logistic Zone.