COSCO Pacific Ltd, a subsidiary of China COSCO Shipping Corp, has signed a share sale and purchase agreement to buy 35 percent of Euromax Terminal in Rotterdam from a subsidiary of Hutchison Holdings Ltd. The acquisition comprises of 41.43 million euros ($47.34 million) for 35 percent of the share capital of Euromax and to pay for assignment on a dollar-for-dollar basis of 35 percent of the shareholder’s loan, COSCO Shipping announced on Thursday [12 May 2016]…Full Article: China Daily May 2016

Key Point

  • China COSCO Shipping will purchase 35% of the terminal from ECT Participations BV, a subsidiary of CK Hutchison Holdings. Euromax Terminal Rotterdam is an automatic container terminal that has an annual capacity of 3.2 million twenty-foot equivalent units (TEUS). In 2015, the terminal processed 2.28 million TEUs.

ChinaAg Comments

  • In April 2016, China’s COSCO sold a livestock shipping vessel to a Singaporean company.
  • In October 2015, China Shipping (Shanghai) began a grain shipping service with China’s COFCO Group. China Shipping Group and COFCO would reportedly import 3.5 million MTs of grain per year.
  • In August 2015, China was considering merging China Ocean Shipping Group (COSCO) with China Shipping Group (Shanghai). COSCO is China’s largest shipping company by fleet size.
  • In 2014, the top Chinese ports in terms of container traffic of Twenty-foot Equivalent Units (TEUs) are Shanghai, Shenzhen, Hong Kong, Ningbo-Zhoushan, Qingdao, Guangzhou, Tianjin, Dalian, Xiamen, Lianyungang and Yingkou. In 2014, Shanghai was the world’s busiest container port with 35.2 million TEU transported through the port. In 2013, Shenzhen surpassed Hong Kong as China’s second busiest container port.
  • In 2013, COSCO built its first livestock shipping vessel for a Dutch company. The COSCO livestock shipping vessel contains water piping, a forage feeding systems, and other livestock transport equipment.
  • Founded in 1961 and headquartered in Beijing, China Ocean Shipping (COSCO) is one of China’s top shipping companies. As of 2015, COSCO had 175 container ships.

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