Cosco Shipping has completed a strategic expansion move into northwest Europe's shipping market with the acquisition of Zeebrugge container terminal from APM Terminals.
The Chinese conglomerate will pay EUR 35m ($42m) to buy APM’s 76% stake in Belgium’s second largest port.
After the closure of the deal, Cosco Shipping Ports will have total ownership of the terminal, which was launched by APM in October 2006.
