Zeebrugge terminal share goes to SIPG

SIPG, who has long been a long-time partner of APMT, had originally negotiated a framework agreement with APMT back in September 2006 to purchase a 40% stake in Zeebrugge container terminal for €45m. However, the timing was bad, and the agreement wasn’t followed through due to the global financial crisis.

APM Terminals Zeebrugge, which opened in 2006 with an annual capacity of 850,000 teu, will remain under the operational control of APM Terminals, which retains a 75% majority share. Terminal throughput in 2009 was 700,000 teu, not quite back to its 2006 levels.