Shanghai International Port Group renews plans on stake in APM
Zeebrugge,
Saturday,
9/19/2009.
Shanghai International Port Group has made public its renewed interest in a stake of 40% in APM Terminals in Zeebrugge. De Chinese group signed a letter of intent on this matter three years ago, but had shown itself shy on the matter later, because of the economic downturn the last 10 months. Now that it is clear, that Zeebrugge far outperforms other European ports in growth, despite the worldwide slump in transport, the deal is back on the rails. The deal would be another major boost to the already fast increasing importance of Zeebrugge in shipping between Europe and Asia. Shanghai International Port Group earlier this week reported a 30% drop in its H1 profit due to a slower turnover of cargo as an economic crisis hurts exports. According to a filing to the Shanghai Stock Exchange, the company saw its profits reduced to USD 252 million profits in the six months ended June 30th, from USD 1.2 billion during the the same period last year. The group handled 11.67 million TEUs with a cargo throughput of 169.5 million tonnes. (FRN)
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