COSCO SHIPPING Ports and Silk Road Fund agree to establish cooperative strategic relationship
COSCO SHIPPING Ports Limited, the world’s leading ports operator, has announced the strategic cooperative partnership between the company and Silk Road Fund to invest in port assets and related upstream and downstream businesses to achieve win-win situation and sharing, according to the company's release.
COSCO SHIPPING established a wholly-owned subsidiary Navigator Investco Limited in Hong Kong in July 2019 as an investment platform for the company and Silk Road Fund. Currently, COSCO SHIPPING and TRD Investco Limited (a wholly-owned subsidiary of Silk Road Fund) hold 51% and 49% of the equity in Navigator Investco, respectively.
Navigator Investco became an indirect 40.797% shareholder of CSP Abu Dhabi Terminal through its holding in COSCO SHIPPING Ports (Abu Dhabi) Limited. Meanwhile, COSCO SHIPPING and Navigator Investco entered into an agreement today pursuant to which the company will sell all the shares of COSCO SHIPPING Ports (Rotterdam) Limited to Navigator Investco. Rotterdam Company is a wholly-owned subsidiary of COSCO SHIPPING and a 35% shareholder of Euromax Terminal. After the transaction is completed, Navigator Investco will become an indirect shareholder of Euromax Terminal with 35% stake through Rotterdam Company.
COSCO SHIPPING Ports is committed to the establishment of global terminal network. The cooperation with Silk Road Fund will maximize the advantages of the integration of the industry and finance. It is expected that the parties will continue to deepen cooperation in the future, conduct capital operations regarding the ports business, and explore multi-path integration solutions of industry and finance, in order to achieve mutual benefits and win-win results.
About COSCO SHIPPING Ports
COSCO SHIPPING Ports Limited is a leading ports operator in the world; its terminals portfolio covers the five main port regions in Mainland China, Southeast Asia, the Middle East, Europe, South America and the Mediterranean. As at 30 June 2021, COSCO SHIPPING Ports operated and managed 357 berths at 36 ports worldwide, of which 210 were for containers, with a combined annual handling capacity of 118 million TEU. COSCO SHIPPING Ports has adopted "The Ports for ALL" as its mission and is working towards building a global terminal network with controlling stake that offers linkage effects on costs, services and synergies, a synergistic platform that offers mutual benefits to all in the shipping industry, connecting global routes and becoming truly "the ports for all people".