COSCO Shipping Ports (Spain), a wholly owned subsidiary of COSCO Shipping Ports, acquired a 51 percent stake in Spain’s Noatum Port Holdings, COSCO Shipping Holdings Co said in an announcement posted on the website of Shanghai Stock Exchange on Monday…Full Article: The Global Times June 2017

Key Point

  • COSCO Shipping Ports acquired a 51% stake in Spain’s Noatum Port Holdings for EUR 200 million (USD 224 million).

ChinaAg Comments

  • In May 2017, China COSCO Shipping Corporation and Jiangsu Lianyungang Port purchased a 49% stake (24.5% each) in Kazakhstan’s Khorgos-East Gate Special Economic Zone. The SEZ is located 15 km from China’s Xinjiang Region. Rail freight can reach Europe in roughly 10 days and Jiangsu Province’s Lianyungang Port in 5 days.
  • In early January/late February 2017, cargo transported by China COSCO Shipping Group arrived in Budapest, Hungary. The shipment’s sea route runs from China’s Port of Ningbo (near Shanghai) to Greece’s Port of Piraeus (near Athens), while its land route (railway) runs from Athens to Budapest. The route takes a total of 26 days from Ningbo to Budapest.
  • In January 2017, COSCO Shipping Ports stake in in Qingdao Port International (QPI) increased from 1.59% to 18.41%. Both companies also agreed to invest in the Khalifa Port Container Terminal II project in Abu Dhabi.
  • In May 2016, COSCO Pacific, a subsidiary of China COSCO Shipping Corp, signed an agreement to 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.
  • In April 2016, China Cosco Holding signed an agreement to acquire a 67% stake in the Port of Piraeus (Athens), Greece’s largest seaport and one of the largest in the Mediterranean Sea.

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