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            september 22, 2017

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Indiaexportnews.com

Maersk's APMT sells Zeebrugge terminal to Cosco

  13.09.2017    

Maersk port operator APM Terminals has sold its 76 per cent stake its Zeebrugge terminal to the Chinese state-owned Cosco group for EUR35 million (US$41.8 million), having already sold 24 per cent to Cosco in 2014, according to Shipping Gazette.
Said APMT Atlantic trade manager Wim Lagaay: "We believe Cosco Shipping Ports is the right owner of the Zeebrugge facility and will continue to grow the port for customers and Zeebrugge stakeholders."
The parties said they expected the deal to close in three to four months, once it had secured regulatory approval, and it is further indication of China's appetite for European transport infrastructure, observed London's Loadstar.
The deal also ends of APMT's involvement in Belgian ports. Under the 2M alliance with MSC, most of Maersk's volumes have moved from Zeebrugge to Antwerp while APMT has shifted its regional focus on Rotterdam.
The Zeebrugge facility has an annual capacity of one million TEU along with its Ocean Alliance partners, Cosco Shipping was described as one of the port's "major" customers. APMT opened its Zeebrugge in October 2006 and later sold a 24 per cent share to Cosco.



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