China Shipping, Maersk Continue Discussions on New Container Terminal Projects

Executives from A.P. Moller – Maersk Group and China Shipping met in the Royal Palace in Belgium for a formal signing ceremony to expand discussions on new container terminal projects to potentially collaborate in as joint venture partners.

China Shipping operates China Shipping Terminal and China Container Shipping Lines and is seeking to expand its European port network.

The President of China, Xi Jinping, attended the signing ceremony as witness with a Chinese trade delegation visiting Belgium, hosted by the Prime Minister of Belgium, Elio Di Rupo.

Back in March 8, 2013, China Shipping Terminal signed an MOU with APM Terminals Zeebrugge for a 24% stake in the deepwater, high productivity terminal. APM Terminals Zeebrugge remains the majority shareholder and operator of the terminal with a 51% share, Shanghai International Port Group (SIPG) has 25%.

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Press Release, April 2, 2014