French container line CMA CGM has bought a 10% stake in CSP Zeebrugge Terminal from Cosco Shipping Ports Development.
The boxship owner is the major client of the Belgian facility and accounted for one third of the total throughput in 2017.
The strategic partnership between CMA CGM and Cosco should foster its development into a major hub port in Northwest Europe, it said.
Cosco bought the remaining 76% of the terminal in November from Maersk's APM Terminals for EUR 35m (then $42m).
Farid Salem, executive officer of CMA CGM, said: “Through this investment, CMA CGM is pleased to develop its strategic partnership with Cosco Shipping Ports and to be part of Zeebrugge Terminal’s future.
"Zeebrugge enjoys a central location in Europe which, combined with CMA CGM service offering and customer-centric strategy, will offer many new opportunities to the group’s customers.
"This investment is in line with the group’s global strategy and will strengthen CMA CGM’s position in the deep-sea container trades.”
