Chinese shipping conglomerate China Ocean Shipping Co (COSCO) has finalized an agreement to take control of the box terminal of the Port of Zeebrugge in Belgium, the State-owned Assets Supervision and Administration Commission (SASAC), said on Tuesday [23 January 2018]…Full Article: ECNS.cn Jan 2018

Key Point

  • Port of Zeebrugge is the second largest port in Belgium after the Port of Antwerp.

ChinaAg Comments

  • In July 2017, COSCO Shipping Holdings and Shanghai International Port (Group) announced a joint takeover of Hong Kong-based Orient Overseas Container Line (OOCL). Founded in 1986 and headquartered in Hong Kong, Orient Overseas International (HKG:0316) is a logistics and container (TEU) transport company.
  • In June 2017, COSCO Shipping Ports (Spain), a subsidiary of COSCO Shipping Ports, acquired a 51% stake in Spain’s Noatum Port Holdings for EUR 200 million (USD 224 million). During the same month, the Shanghai International Port Group and COSCO Shipping’s Piraeus Port Authority (PPA) signed two MoU agreements. At the time, the Shanghai International Port Group controlled 25.7% of China’s foreign trade (by volume), while the PPA was a subsidiary of China’s COSCO Shipping.
  • 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 increased its stake in the Port of Qingdao, Shandong Province, to 18.41%.
  • 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. During the same month, China Ocean Shipping (COSCO) delivered a livestock shipping vessel to a Singaporean company. The COSCO livestock shipping vessel contains water piping, a forage feeding systems, and other livestock transport equipment. Since 2013, COSCO has received seven vessel orders.
  • In 2013, COSCO built its first livestock shipping vessel for a Dutch company.
  • Since 2010, Piraeus Container Terminal, a subsidiary of China’s COSCO Shipping, has been operating Piers II and III at Piraeus port as part of a 35-year concession agreement.

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