Maersk Group signed an agreement with China Shipping paving the way for negotiations on further collaboration on new container terminal projects and the establishment of joint ventures with its port arm, APM Terminals.
The signing ceremony in the Royal Palace in Brussels was attended by the president of China, Xi Jinping, accompanying a Chinese trade delegation visiting Europe, and Belgian Prime Minister Elio Di Rupo.
China Shipping, parent of China Shipping Container Lines and China Shipping Terminal Development, is seeking to expand its European port network.
China Shipping Terminal Development acquired a 24 percent stake in APM Terminals Zeebrugge in mid-2013, becoming the second Chinese company to partner with the Danish terminal operator in the Belgian port.
APM Terminals remains the majority shareholder in the deepwater terminal, with a 51 percent stake. Shanghai International Port Group has a 25 percent stake acquired in 2010.
China Shipping Terminal Development has holdings in 13 ports in mainland China and stakes in terminals in Los Angeles and Damietta, Egypt.
Contact Bruce Barnard at firstname.lastname@example.org.