Cosco, CMA Terminals Reinforce Strategic Cooperation
Cosco Shipping Ports and CMA Terminals Holding have signed a memorandum of understanding (MOU) in Shanghai to reinforce their strategic cooperation on port operations and investments.
The two parties have agreed to seek cooperation in ports worldwide and preference will be given to ports that the Ocean Alliance calls, MANA correspondent reported.
The Ocean Alliance includes carrier members CMA CGM and Cosco Shipping Lines.
Cosco Shipping Ports is the ports and terminals operator arm of China Cosco Shipping Corporation Limited (Cosco Shipping), while CMA Terminals is the port subsidiary of CMA CGM.
Both parties of the MOU have also agreed to provide support in terms of business and service to the ports that the other side has already invested.
CMA CGM said in a statement that cooperation between Cosco Shipping Ports and CMA Terminals has become closer since the establishment of the Ocean Alliance.
“Both sides wish to create more opportunities in global port investment and operation.” CMA CGM said.