Cosco takes share in Bilk container terminal

China Cosco Shipping subsidiary Ocean Rail Logistics has taken a 15% share in the Bilk container terminal near Budapest, which was previously exclusively owned by Austrian Federal Railways (ÖBB) subsidiary Rail Cargo Group (RCG).

The contract was signed between RCG and Ocean Rail Logistics on December 2 in the presence of Mr Lázló Mosóczi, the state secretary at the Hungarian Ministry of Transport, and Mr Duan Jielong, China’s ambassador to Hungary.

The nine-hectare intermodal terminal is the largest in Hungary, and features seven 750m-long tracks, two 250m-long tracks and one 50m-long track. Ocean Rail Logistics, which is set to be a long-term customer of the terminal, already has a 51% share in the major intermodal sea port in Piraeus, Greece.

The terminal has direct rail connections to the sea ports in Hamburg and Bremerhaven, Germany; Rijeka, Croatia; Koper, Slovenia; Halkali, Turkey; Piraeus; and inland intermodal terminals at Neuss and Duisburg, Germany, and Curtici, in Romania.

Meanwhile, China is also expanding its footing in the Greek rail freight market, after Piraeus East Asia Rail Logistics (Pearl) signed a contract for the sale of 60% of their shares to Ocean Rail on November 19.

Ocean Rail’s Greek subsidiary was established on December 22 2017 to link Piraeus seaport with the Maritime Silk Road project and the Silk Road Economic Belt in Europe. It is reported that Pearl will lease two electric and two diesel locomotives from Gaiaose in the near future.

Source: railjournal.com