The shipping line acquired some key assets of Noatum Ports in June this year - the container terminals in Valencia and Bilbao, the dry port in Coslada (Madrid) and Rail Terminal Zaragosa. This left Noatum Ports and Maritime's remaining assets with J P Morgan and Stichting Pensioenfonds ABP.
Kai Sun is the new Managing Director. He has more than 20 years in port and maritime logistics management. Previously, he was a Director at Dalian Cosco Logistics in Dalian, Director and Deputy Executive Director of South China Oceangate Container Terminal in Guangzhou, Director General of development of Cosco Pacific (China) Investment, Deputy Executive Director General of Pacific Container Terminal in Quanzhou and of Pacific Ports Development in Jinjiang, in addition to having been Director General of Anqing Port. In 2010-2015, Sun was operations director of Cosco Shipping Piraeus Container Terminal, during which time throughput increased from 600,000 TEU to more than 3M TEU.
Wei Zhang becomes President of Noatum Ports. At present, he is Executive Director and VP of the Board of Directors and Managing Director of Cosco Shipping Ports Limited. He replaces Chris Gray, who continues as President of Noatum Maritime.
Ken Chan, who has more than 25 years experience in corporate strategic planning, management and finances, become a member of the Board of Noatum Ports. He currently serves as Subdirector General of Cosco Shipping Ports Limited.
Douglas Schulz, the existing Managing Director of Noatum Ports will remain in place for a short transition period lasting several months. Thereafter he will be Managing Director of Noatum Maritime.
Meanwhile, the Spanish port involvement of JP Morgan and Stichting has decreased further as Noatum Ports has sold the 45% stake that it held in Operaciones Portuarias Canarias SA (Opcsa) in Las Palmas to Terminal Investments Ltd (MSC), which already held the other 55%. Noatum Ports' remaining assets are the container terminal in Málaga, Autoterminal in Barcelona and general cargo/dry bulk operations in Santander and Sagunto.