News / Cosco puts its faith in the Ocean Alliance to keep its Noatum facilities afloat

Noatum's flagship Valencia facility

The ultimate success of Cosco Shipping Ports’ (CSP) purchase last month of a 51% stake in Spanish ports group Noatum Port Holdings (NPH) will depend almost entirely on the Ocean Alliance, according to Drewry Maritime Financial Research (DMFR).

DMFR said the profitability of the new acquisition hinged “on the performance of NCTV [Naotum Container Terminal Valencia]”, which in turn suggests it would hinge on CSP’s ability to maximise its cargo gain from the Ocean Alliance members.

The Chinese port operator, a subsidiary of state-owned ...