COSCO Shipping Ports, the biggest terminal operator in the world by market share and a subsidiary of China Ocean Shipping Corporation, has reportedly purchased a 40% stake in the Vado Gateway terminal, Italy.
The new Vado Gateway terminal, located at the port of Vado Ligure, is expected to be operational in December of 2019.
The terminal will have an annual capacity of 900,000 TEUs and enable Vado Ligure to compete with other major European ports.
In addition, with this investment, Vado Ligure will be the only terminal in the region capable of handling the next generation of ultra-large container ships.
APMT has been contacted for comment.