Concession of CSP Zeebrugge Terminal is Extended to 2055 Continue to Strengthen CSP Zeebrugge Terminal as the Hub Port in Northwest Europe

COSCO SHIPPING Ports Limited, the world’s leading ports operator, is pleased to announce that, the Company and Port of Zeebrugge held an online signing Ceremony and agreed to extend the concession of CSP Zeebrugge Terminal by 15 years to 2055. Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports and Mr. Tom Hautekiet, CEO of Port of Zeebrugge, signed the agreement on behalf of the two companies

Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports, said: “CSP Zeebrugge Terminal has strong momentum of growth in recent years. In 2021, CSP Zeebrugge Terminal enjoyed a 53% increase in volume to approximately 930k TEU, which would not have been possible without the excellent corporation between the Port of Zeebrugge and COSCO SHIPPING Ports. As the first holding terminal in Northwest Europe, CSP Zeebrugge Terminal, is and will always be in the top priority in COSCO SHIPPING Ports strategy. The extension of the concession is a next milestone for both of us. We are looking forward to enhancing our cooperation with Port of Zeebrugge, further developing the terminal and enhancing our operational capability to provide competitive service to all customers.

Mr. Tom Hautekiet, CEO of Port of Zeebrugge, said: “The extension of the concession term offers new opportunities for the port of Zeebrugge in the near and distant future. The cooperation with COSCO SHIPPING Ports has certainly already borne fruit. The strong growth in the share of deepsea container traffic resulted in an increasing interest of other shipping companies and services for the Zeebrugge port system. Together we want to lift the pioneering role of the port of Zeebrugge for international logistics to a higher level and optimize the port infrastructure within the framework of our intended ‘clean port strategy’.”

CSP Zeebrugge Terminal is the first subsidiary of COSCO SHIPPING Ports in Northwest Europe and our Company has 85.45% stake in the terminal. The Terminal enjoys favorable geographical location with more than 1200-meter quay length and 17.5-meter depth alongside. It has three berths and is capable of satisfying the needs of mega-vessels. CSP Zeebrugge Terminal is adjacent to Hamburg and Le Havre districts, close to the UK. As a transportation hub leading to all directions, the Port of Zeebrugge has good road and rail network connecting various countries in Europe, as well as coastal ports in Northwest Europe, Central Europe, and Eastern Europe.

CSP Zeebrugge Terminal optimizes the network in Northwest Europe for the dual brands of COSCO SHIPPING Lines and OOCL, as well as the Ocean Alliance, and maximizes the synergy effect. Under the existing concession rights agreement, the concession of CSP Zeebrugge Terminal is 36 years, from January 1, 2005 to December 31, 2040. The extension of the concession to 2055 will help better strengthen CSP Zeebrugge Terminal as a hub port in Northwest Europe.
Source: Cosco Shipping Ports

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