COSCO acquires majority stake in Noatum Ports
COSCO acquires majority stake in Noatum Ports
Author: CSEBA / SEEbiz
28th August 2018
VALENCIA - Chinese shipping giant China Ocean Shipping Company (COSCO) has acquired a majority stake in Spain's largest maritime terminal operator, Noatum Ports.

The operator manages a pair of maritime terminals in the cities of Valencia and Bilbao, as well as dry terminals in Zaragoza and Madrid. 


Valencia lies on Spain's east coast. The Port of Valencia is one of the busiest seaports in Europe. It's also the largest in Spain, and in the Mediterranean Sea Basin.

Currently, nearly half of the traffic in the Valencia port is shipped from or to the far east with China being the main commercial partner.

Last year, Chinese company COSCO Shipping acquired a controlling stake in Noatum Ports, the company operating the Container Terminal of the Port of Valencia.

Noatum Ports CEO Sun Kai said the port's strategic geographical position, operational capacity, and modern operation systems mean it can perfectly integrate into the main transportation hub for the region.

"Valencia Port was ranked No.1 in Mediterranean area, and No.5 in Europe and No.29 in the world. In terms of its throughput of 4.83 million in 2017 last year. Valencia is an ideal maritime gateway for Iberian Peninsula, and it's connected to the central Spain, makes it a natural port for I think the Greater Madrid Area," said Sun Kai.

COSCO Shipping also operates the Port of Bilbao, an entry-point into Europe for ships coming across the North Atlantic.

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