Chinese now own all of Zeebrugge container terminal Author: MB

Mon 11/09/2017 - 16:34 MB The Chinese shipping line Cosco Shipping has become sole owner of APM Terminals at the West Flemish port of Zeebrugge. The news came in press statement released by APM Terminals on Monday. APM Terminals has been in the outport at Zeebrugge since 2006. It currently holds 51% of shares in the port’s container terminal that has the capacity to ship 1 million tonnes of 20 foot containers (the standard size) per annum.

Since 2014 Cosco has held a 24% interest in the container terminal.
The remaining 25% of shares in the terminal are held by the Shanghai International Port Group.

However, APM is to buy back these shares and together with the shares it holds in the terminal, sell them to Cosco Shipping Ports, a subsidiary of Cosco Shipping. This means that the Chinese shipping line will become sole owner of the Zeebrugge terminal.

No change in the way the terminal operates

The press statement reads "The decision to withdraw from the Zeebrugge terminal is part of our strategy to focus on our core activities in the long term”.

"We are convinced that Cosco is the best long-term owner for this site and we are convinced that it will provide growth for the customers, the employees and the stakeholders at the port".

APM Terminals says that there will be no changes in the way that the terminal opperates. There is no word as to the amount the Chinese shipping line has paid. It will probably take several months both the transaction has been completed.