Signing of MOU between COSCO SHIPPING Ports and CMA Terminals Holding, the CMA CGM port subsidiary, to reinforce their strategic cooperation on port operations and investments
Corporate Information
On 20 January, COSCO SHIPPING Ports signed a memorandum of understanding (“MOU”) with CMA Terminals Holding in Shanghai. The two parties have agreed to seek cooperation in ports worldwide and preference will be given to ports that the Ocean Alliance calls. Meanwhile, both sides have also agreed to provide support in terms of business and service to the ports that the other side has already invested.
Zhang Wei, Vice Chairman and Managing Director of COSCO SHIPPING Ports and Mr. Farid Salem, Executive Officer of CMA CGM Group signed the MOU in the presence of Mr. Huang Xiaowen, Deputy General Manager of China COSCO SHIPPING Corporation Limited and Chairman of COSCO SHIPPING Ports, Mr. Fang Meng, Deputy Managing Director of COSCO SHIPPING Ports, Mr. Jean-Yves Duval, Senior Vice President, CMA CGM Asia and Mr. Baocai Wang, President of CMA CGM China.
Since the establishment of the Ocean Alliance, the cooperation between COSCO SHIPPING Ports and CMA Terminals Holding has become closer. Both sides wish to create more opportunities in global port investment and operation. The discussion of cooperation began in early 2016 and on this basis, both sides have recently reached consensus and signed the MOU.
About CMA CGM
CMA CGM, founded and led by Jacques R. Saadé, is a leading worldwide shipping group. Its 536 vessels call more than 420 ports in the world, on all 5 continents. In 2015, they carried 18 million* TEUs (twenty-foot equivalent units). CMA CGM has grown continuously, and has been constantly innovating to offer its clients new sea, land and logistics solutions. With a presence in 160 countries, through its 600 agencies network, the Group employs 29,000 people worldwide, including 2,400 in its headquarter in Marseilles. *Combined proforma CMA CGM and NOL
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About COSCO SHIPPING Ports Limited (COSCO SHIPPING Ports) (Stock Code: 1199.HK)
COSCO SHIPPING Ports’ controlling shareholder is COSCO SHIPPING Holdings Co.,Ltd.(Stock Code: 1919.HK), whose parent company, COSCO SHIPPING Group, is one of the largest integrated shipping enterprises in the world. Based in China and facing to the world, COSCO SHIPPING Ports’ network of terminals extends to more than 30 ports worldwide, covering the main five port clusters along the Chinese coast, Southeast Asia, Europe, the Mediterranean, the Black Sea etc.
