APM signs strategic cooperation with China Shipping on container terminals

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APM signs strategic cooperation with China Shipping on container terminals AP Møller-Maersk (APM) has signed a memorandum of understanding with China Shipping to pave the way for more collaboration and joint ventures in APM Terminals.

The Danish conglomerate announced on April 2nd, it has signed a strategic cooperation agreement with the Chinese state-owned company. Executives from A.P. Moller-Maersk Group and China Shipping (Group) 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 (Group) 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.

In March 2013, its subsidiary China Shipping Terminal signed a Memorandum of Understanding with APM Terminals Zeebrugge for a 24% stake in the deep-water Belgian terminal. APM Terminals Zeebrugge remains the majority shareholder and operator of the terminal with a 51% share;  Shanghai International Port Group (SIPG) has the remaining 25%.

APM Terminals is an international container terminal operating company headquartered in The Hague, Netherlands. It is one of the world's largest port and terminal operators as well as providing cargo support and container Inland Services, and is the largest port and terminal operating company in terms of overall geographic scope operating a Global Terminal Network with interests in 64 operating port and terminal facilities in 39 countries on five continents.

China Shipping (Group) Company is a shipping conglomerate under the direct administration of the State Council of the People's Republic of China. It is headquartered in Shanghai. It is mainly engaged in shipping of oil tankers, passenger ships and containervessels. Other related businesses include ship and Terminal management, finance and investment, engineering, human resources, trading and information technology.

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