The transaction is scheduled to be finalized by the end of June 2013.
APM Terminals currently holds a 75% majority share in APM Terminals Zeebrugge N.V., with the Shanghai International Port Group (SIPG) having acquired a 25% share in the facility in 2010.
Shanghai-based China Shipping Container Lines, established by the China Shipping Group in 1997, is now the world’s 9th-largest shipping company, with 141 vessels, representing an overall capacity of 572,000 TEUs. China Shipping Terminal Development has holdings in 13 port facilities in mainland China, as well as shares in terminals in the ports of Los Angeles and Seattle in the USA, and Damietta, Egypt. Total throughput, measured by equity share for China Shipping Terminal was 7.8 million TEUs in 2011.
“We are very proud that China Shipping Terminal demonstrates so much confidence in our operations” said APM Terminals Zeebrugge Managing Director, Mark Geilenkirchen, adding “this will certainly lead to a stronger position for our terminal in the Le Havre-Hamburg range”.
The Port of Zeebrugge is the 5th–busiest in the North Europe port range, with approximately 2.2 million TEUs handled in 2012, and is situated at the delta of the Rhine, Scheldt and Meuse Rivers. APM Terminals Zeebrugge is ideally located on the main shipping routes in Northwestern Europe with a natural deep draft which can accommodate the latest-generation ultra-large container vessels. Well-established intermodal connections, including rail access to Belgian and other European highway systems serve interior European points. Zeebrugge’s central location also makes it a natural transshipment port for the UK, Ireland, Scandinavia and Baltic region. APM Terminals Zeebrugge’s throughput in 2012 was 380,000 TEUs.
Photo caption:
Executives at the signing ceremony pictured left to right:
Mr. Fang, Meng, Managing Director, China Shipping Terminal Development Co., Ltd.
Mr. Zhang, Da Yu, Managing Director Assistant / International Division, General Manager, China Shipping Terminal Development Co. Ltd.
Mr. Martijn van Dongen, Head of Business Development, Europe Region, APM Terminals
Mr. Mark Geilenkirchen, Managing Director, APM Terminals Zeebrugge N.V.