Belgium’s Port of Zeebrugge has signed an agreement with China-based COSCO Shipping Ports regarding the concession terms of the CSP Zeebrugge Terminal.
COSCO also entered a memorandum of understanding (MoU) with Marseille-based shipping firm and Ocean Alliance member CMA CGM Group during the signing ceremony, which was held in Brussels.
CMA has agreed to make an initial investment of 10% in CSP Zeebrugge as part of the MoU.
COSCO Shipping chairman Captain Xu Lirong said: “Being the major gateway port of Belgium and major hub port in Northwest Europe, Zeebrugge port plays an important role in sea transportation.
“The signing of concession terms with Port of Zeebrugge will further enhance the terminal services and deepen the bilateral trade relationships between the two countries.
“Furthermore, we are discussing with Port of Zeebrugge about our cooperation of developing full logistics services on the terminal hinterland.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“I hope we will have developments soon to enhance the customer services.”
CSP is expected to assume control of the terminal and develop it into a gateway port of COSCO Shipping in Northwest Europe following the completion of the concession agreement.
Port of Zeebrugge managing director Joachim Coens said: “Zeebrugge port provides favourable coastal conditions to accommodate mega-vessels.
“Located in the outer port with strong infrastructure, CSP Zeebrugge is well equipped to provide efficient services to shipping companies.
“The staff are keen to embrace a new chapter of development.”
The terminal is equipped with easy transportation access in all directions and offers a network of road and rail connections to all Continental European nations, as well as different ports across Northwest, Central and Eastern Europe.