THE port of Zeebrugge has reached an agreement to purchase a five per cent stake in Cosco Shipping Ports' (CSP) Zeebrugge Terminal NV for EUR2.5 million (US$2.916 million).
Zeebrugge Terminal became a wholly owned subsidiary of CSP in November when the company acquired a 76 per cent stake from the previous owner, reported American Shipper.
The second-largest port in Belgium, Zeebrugge is the first terminal in northwest Europe in which Cosco Shipping Ports holds a controlling stake.
'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,' CSP said.
'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,' the company said.
Zeebrugge Terminal became a wholly owned subsidiary of CSP in November when the company acquired a 76 per cent stake from the previous owner, reported American Shipper.
The second-largest port in Belgium, Zeebrugge is the first terminal in northwest Europe in which Cosco Shipping Ports holds a controlling stake.
'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,' CSP said.
'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,' the company said.