CMA CGM is currently the major client of CSP Zeebrugge and accounted for one-third of the terminal’s total throughput in 2017. The strategic partnership with CMA CGM should foster the development of CSP Zeebrugge into a major hub port in Northwest Europe, CSP said in a press release.
CSP completed the acquisition of the remaining 76% equity interest in CSP Zeebrugge Terminal in November 2017 and made it a wholly-owned subsidiary after taking over APM Terminals’ interest for 35m euros. The company then sealed a concession agreement for the terminal with the Port of Zeebrugge and also announced CMA CGM would take a 10% stake.
CSP said it is dedicated to the strategic development of the terminal by enhancing management and services, and forming strategic partnerships for the long-term development of the terminal. In May 2018, CSP also formed another strategic alliance with the Port of Zeebrugge, with the Port authority of Zeebrugge taking a 5% stake in CSP Zeebrugge.
There are plans to not only to develop the terminal into a strategic hub port but also an ultra-logistics platform to serve continental Europe and the British Isles, where CSP will work closely with the Port of Zeebrugge on the Maritime Logistic Zone.
The Port of Zeebrugge enjoys a strategic geographic position in Europe and is a transportation hub for global container traffic. The port also benefits from good connections to other European countries through a dense network of road and rail connections.
CSP vice chairman and md Zhang Wei said: “The 10% investment by CMA CGM in CSP Zeebrugge enables the terminal to further secure the volume from CMA CGM and Ocean Alliance, and enhance its operational efficiency. The strategic partnership sets a success example for the future cooperation among members of shipping alliances and terminals.”
He added: “CSP Zeebrugge is the first terminal in Northwest Europe in which Cosco Shipping Ports holds a controlling stake, which is a part of our effort in globalization and building a global terminal network with highly efficient and cost-effective services to serve shipping companies. We will continue to strengthen the cooperation with members of Ocean Alliance and maximize the synergies among us.“ Cosco Shipping is a fellow Ocean Alliance member with CMA CGM.
CMA CGM Group executive officer Farid Salem said: “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.”