Cosco Shipping Ports, the port operating arm of China Cosco Shipping Corp, has been announced as being a likely bidder to build and operate a terminal at the Port of Algeciras in Spain, according to Beijin-based news agency Caixin Online.
This announcement follows previous news that a tender notice had been issued to call for bidders to build a 37ha terminal for a total of 50 years.
PTI previously reported that throughput for Cosco Shipping Ports had grown at its terminals by 3.5%, compared with the corresponding period in 2015.
Technical Paper: TTI Algeciras: A Pioneer in Transhipment Automation
This comes despite a period riddled with uncertainty, particularly due to a mismatch in supply-demand, as well as port overcapacity, which is threatening to increases losses at many Chinese ports.
COSCO Shipping Ports is currently the world's fourth-largest container operator by capacity.
China Cosco Shipping has a combined fleet capacity of 1.6 million TEU and is the fourth largest container line globally.
