Ocean Shipping Logistics, a subsidiary of China Ocean Shipping Company, has acquired a 15% stake in the Birk Container Terminal near Budapest, which was previously wholly-owned by the Rail Freight Group (RCG), a subsidiary of the Austrian Federal Railways (ÖBB).

On December 2, RCG signed a contract with Sino-Ocean Railway Logistics in the presence of Mr. Razlo Mosoc, the State Secretary of the Ministry of Transport and Mr. Duan Jielong, the Chinese Ambassador to Hungary.

The Bilk Container Terminal covers 9 hectares and is Hungary's largest intermodal terminal, with 7 750m long tracks, 2 250m long tracks and 1 50m track. Maritime Rail Logistics already owns a 51% stake in Greece's main intermodal seaport in Piraeus and will become a long-term client of the terminal.

The terminal is inland with Hamburg and Bremerhaven, Germany, Rijeka, Croatia, Copper, Slovenia, Halkali, Turkey, Piraeus, and Neuss, Duisburg, Germany, and Curtis, Romania. The intermodal terminal has direct rail connections.

Acquisition of 60% stake in Port Piraeus

At the same time, COSCO SHIPPING Europe and Greek PEARL signed a PEARL equity purchase agreement in the Greek port of Piraeus. According to the agreement, Luhai Express Co., Ltd., a subsidiary of COSCO SHIPPING Europe, will acquire 60% of the equity of PEARL.

With this acquisition, COSCO SHIPPING Land and Sea Express Co., Ltd. has obtained railway operation qualification in Europe, and China has expanded its foothold in the Greek railway freight market.

COSCO SHIPPING Europe was established on December 22, 2017 to connect the Piraeus seaport with the Maritime Silk Road project and the European Silk Road Economic Belt.Editor/Huang Lijun