English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Danes sell Belgium terminal to China

THE HAGUE: September 11, 2017. APM Terminals, part of the A.P. Moller - Maersk Group, is to sell its 76 percent ownership of Belgium's second largest container port at Zeebrugge to COSCO Shipping Ports (CSP) for €35 million.

Zeebrugge APM TerminalsThe transaction is expected to close in November 2017 and make the Hong Kong-based port operator the sole owner of the one million TEU-capacity facility.

APM Terminals opened Zeebrugge in October 2006 and then sold a 24 percent share to COSCO – one of its major customers. "Our decision to divest Zeebrugge reflects our portfolio strategy to focus on long term core assets," commented Wim Lagaay, head of APM Terminals USA and Europe.

"We believe COSCO Shipping Ports is the right long-term owner of the Zeebrugge facility and will continue to grow the port for customers, employees and the Zeebrugge stakeholder community," he added.

CSP is a co-shareholder and strategic partner in several operations with APM Terminals including the Suez Canal container terminal in Egypt, and the Qingdao Qianwan and Guangzhou South China Oceangate terminals in China.

In October 2016 the subsidiary of China's COSCO Shipping Corporation acquired a 40 percent share in the APM Terminals Vado terminal project under construction in Vado, Italy.

More News

Written on 16/09/2017, 03:41
cma-cgm-reports-us-472-million-q2-ebitMARSEILLE: September 15, 2017. CMA CGM has reported a 56.8 percent increase in second quarter 2017 revenue to US$5.55 billion and a net income of US$219...
Written on 14/09/2017, 19:01
brucargo-plans-multimodal-cloud-with-nxtportANTWERP/BRUSSELS: September 14, 2017. Data platform NxtPort and Air Cargo Belgium's BRUcargo cloud-based community have signed an MoU to develop a digital...
Written on 13/09/2017, 22:03
kuehne-nagel-launches-lithium-battery-logisticsSCHINDELLEGI, Switzerland: September 13, 2017. Kuehne + Nagel has launched 'KN Battery Chain' – a supply chain solution for shipping large lithium...
Written on 13/09/2017, 16:36
cargo-re-starts-at-miaMIAMI: September 13, 2017. Miami International Airport expects a return to normal flight operations by the weekend of September 16/17 following Hurricane...
Written on 12/09/2017, 21:07
wisetech-acquires-air-and-ocean-rate-managementSYDNEY: September 12, 2017. Logistics software group WiseTech Global has acquired two rate management companies: Netherlands-based Cargoguide covering the...
Written on 12/09/2017, 20:05
40-million-investment-for-dunkerqueDUNKERQUE: September 12, 2017. The Dunkerque Multibulk Terminal (DMT) is investing €40 million over the next two years to produce construction materials...
Written on 12/09/2017, 19:13
rickmers-group-thrown-a-lifebeltHAMBURG: September 11, 2017. The Zeaborn Group and Hamburg shipowner Bertram Rickmers are to acquire the Rickmers Group's global ship management business,...
Written on 11/09/2017, 20:50
freightweek-news-update-week-37FELIXSTOWE, UK: September 15, 2017. Construction company VolkerFitzpatrick has won a contract at the Port of Felixstowe to design and construct 13...
Written on 11/09/2017, 15:16
danes-sell-belgium-terminal-to-chinaTHE HAGUE: September 11, 2017. APM Terminals, part of the A.P. Moller - Maersk Group, is to sell its 76 percent ownership of Belgium's second largest...
Written on 08/09/2017, 18:42
hna-to-spend-another-us-1-billion-on-logisticsSINGAPORE: September 07, 2017. HNA Belt and Road Investments Singapore, a subsidiary of HNA Holding Group (HK Group), has made an unsolicited offer of...
Written on 07/09/2017, 21:21
american-cancels-flights-ahead-of-irmaDALLAS/FORT WORTH: September 07, 2017. American Airlines (AA) has canceled 2,405 flights between today and September 11 as a result of Hurricane Irma, due...
Written on 07/09/2017, 19:39
china-merchants-acquires-brazil-container-terminalXIAMEN, China: September 04, 2017. China Merchants Port Holdings (CMPort), owned by China's state-owned Assets Supervision and Administration Commission...
Written on 06/09/2017, 14:08
freightweek-news-update-week-36NEW JERSEY, September 07, 2017. The 14,400 TEU capacity CMA CGM Theodore Roosevelt has became the largest container ship to pass under the raised Bayonne...
Written on 05/09/2017, 21:10
dhl-trials-delivery-to-customer-carsBONN, September 05, 2017. DHL Parcel and Volkswagen (VW) are testing a pilot project to deliver and collect parcels from the trunks of customers'...
Written on 29/08/2017, 21:15
cosco-first-half-profit-gain-from-saleHONG KONG: August 29, 2017. COSCO Shipping Ports has reported a first half 2017 (H1) net profit of US$384.7 million on revenue of US$275.8 million that...
Written on 29/08/2017, 16:18
freightweek-news-update-week-35LEICESTER, UK: August 31, 2017. Pall-Ex continues to grow its freight network with the addition of four members in the UK. Read more: Pall-Ex.pdf HONG...
Written on 28/08/2017, 20:47
qantas-promotes-head-of-freight-businessSYDNEY: August 28, 2017. A reorganization of the Qantas Group top management sees the appointment of Alison Webster, executive manager of Freight,...
Written on 28/08/2017, 18:06
new-intra-city-logistics-leader-for-asiaBEIJING: August 28, 2017. 58 Home, a leading online marketplace for merchants and consumers, has merged its logistics unit 58 Suyun with Hong Kong-based...
Written on 28/08/2017, 17:31
cargolux-adds-two-more-african-routesLUXEMBOURG: August 28, 2017. Cargolux is to begin new services to Douala, Cameroon and Lubumbashi, Democratic Republic of Congo (DRC). A weekly service...
Written on 25/08/2017, 16:27
lufthansa-cargo-s-pre-school-run-raises-20-000FRANKFURT: August 25, 2017. Almost 1,000 runners took part in the recent third annual 'Office City Run' to raise money for a pre-school in Nairobi, Kenya...

- powered by Quickchilli.com -