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Cosco Shipping now has full control of Belgian key port

Cosco Shipping now has full control of the port of Zeebrugge after the state-owned Chinese conglomerate bought a large ownership stake in the port from Maersk-owned APM Terminals.

Photo: AP/Polfoto/Arkiv

Cosco Shipping has completed its acquisition of a controlling stake in Port of Zeebrugge, according to a press release from the port. The state-owned Chinese conglomerate will thus gain full ownership and control of a key port in northwestern Europe.

Strongly expanding Cosco Shipping, which is expected to move up the list to become the world's third largest container carrier this year due to several acquisitions and a huge order book, has owned 24 percent of the Port of Zeebrugge since 2014. The port is Belgium's second-largest after Antwerp.

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