COSCO Shipping Ports, Zeebrugge Port extend container terminal concession

Port operator COSCO Shipping Ports Limited and Belgium’s Port of Zeebrugge have agreed to extend the concession of CSP Zeebrugge Terminal by 15 years to 2055.

COSCO
Photo: CSP Zeebrugge Terminal

Zhang Dayu, Managing Director of COSCO Shipping Ports and Tom Hautekiet, CEO of Port of Zeebrugge, signed the agreement online on 26 January 2022.

Under the existing concession rights agreement, the concession of the container terminal is 36 years, from 1 January 2005 to 31 December 2040. The extension of the concession to 2055 will help better strengthen CSP Zeebrugge Terminal as a hub port in Northwest Europe, according to the two partners.

“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,” Dayu said.

“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.”

“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,” according to Hautekiet.

“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, with COSCO controlling an 85.45% stake in the terminal.

The terminal has more than 1200-meter quay length and 17.5-meter depth alongside. It has three berths and is capable of welcoming 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.

Related Article