COSCO SHIPPING Ports Signed Agreement with Port of Zeebrugge
 
COSCO SHIPPING Ports Signed a Concession Agreement with Port of Zeebrugge, Reached MOU with CMA for Strategic Partnership


 
COSCO SHIPPING Ports Limited ( “COSCO SHIPPING Ports” or “CSP” or “the Company”; SEHK：1199), the world’s leading port operator, announced a signing ceremony was held on January 22，2018 with Port of Zeebrugge in Brussels of Belgium for the concession terms of CSP Zeebrugge Terminal (“CSP Zeebrugge”).
 
The event also witnessed the signing of a Memorandum of Understanding (“MoU”) between the Company and CMA CGM Group (“CMA”), the Marseille based world’s leading shipping company and member of Ocean Alliance, for CMA’s initial investment of 10% in CSP Zeebrugge.
 
H.E. Kris Peeters, Vice Prime Minister and Minister for Work, Economic Affairs and Consumer Affairs, responsible for Foreign Trade, said, “China is getting more significant as a trading partner. The continued presence of COSCO SHIPPING in Zeebrugge contributes to strengthening Belgian-Chinese trade and the international position of the Port of Zeebrugge.”
 
Speaking at the signing ceremony, H.E. Qu Xing, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of Belgium said, “The launch of Belt and Road initiative between China and Belgium in 2014 has laid a solid foundation for today’s signing ceremony. China-Belgium trade is bilateral, not unilateral. The cooperation between China and Belgium is win-win. By actively exploring cooperation opportunities with China, Zeebrugge port has gained importance in international sea freight market, especially Northwest European routes. Let us work together to drive the win-win cooperation between the two countries to the next stage.”
 
Capt. Xu Lirong, Chairman of COSCO SHIPPING expressed his views that, “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, I hope we will have developments soon to enhance the customer services."

He said," After the signing of concession terms with Port of Zeebrugge, and a Memorandum of Understanding for CMA’s initial investment of 10%, CSP will take the control of CSP Zeebrugge Terminal and develop it into a gateway port of COSCO SHIPPING in Northwest Europe.” 
 
As the second largest port in Belgium, the Zeebrugge port enjoys favourable geographical position. The Zeebrugge port is close to Hamburg and Le Havre and is within a short distance of Great Britain. Being a transportation hub for traffic in all directions, the Zeebrugge port has a good network of road and rail connections to all countries of Continental Europe, and to other ports in Northwest, Central and Eastern Europe.

In addition, Zeebrugge port is a natural deep-water harbour and is capable of satisfying the needs of mega-vessels. The Zeebrugge port is the first terminal in Northwest Europe in which the Company holds a controlling stake and will facilitate the Company in establishing its major hub ports and global strategic focal point.