June 17, 2019 [Splash] – China Cosco Shipping has taken full control of LBC Shanghai Shipping Terminal through the acquisition of 70% equity interest of the company from its Belgian joint venture partner LBC Tanker Terminals.
Cosco believes the acquisition will form an important part of its strategy to development liquid cargo storage business and create synergies with its shipping operations.
LBC Shanghai Shipping Terminal, established by Cosco (30%) and LBC Tanker Terminals (70%), offers chemical storage services at Shanghai’s Waigaoqiao port area. It currently operates 62 tanks with total capacity of 74,200 cu m.
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