Turkey is an important node along the Silk Road Economic Belt and the 21st Century Maritime Silk Road. The Kumport terminal is located in the Ambarli Port area on the northwest coast of the Sea of Marmara, near the European side of Istanbul. It occupies a vital strategic location at the junction of Europe and Asia, just 35 kilometers from the Bosphorus Strait—a mandatory passage for Black Sea shipping routes. It serves as a critical gateway between the Black Sea and the Mediterranean, and is Turkey's third-largest container terminal.
The terminal currently has a quay length of 2,180 meters, 6 berths, and a maximum front water depth of -16.5 meters, capable of handling the world's largest container vessels. Its current container throughput capacity is 1.84 million TEUs, with potential for further expansion to 3.5 million TEUs. In 2014, Kumport handled a total of 1.414 million TEUs, accounting for 17% of Turkey's total container throughput, with a compound annual growth rate exceeding 30% from 2009 to 2014.
On September 16, 2015, a Luxembourg-based special purpose vehicle (SPV) jointly established by COSCO Pacific Limited (a subsidiary of China COSCO Shipping Corporation), China Merchants Holdings (International) Company Limited, and CIC Capital Corporation acquired approximately 65% of the shares of the Kumport container terminal. Within this tripartite consortium, China Merchants Holdings, COSCO Pacific, and CIC Capital hold 40%, 40%, and 20% of the equity, respectively.
Regarding the purpose of the acquisition, Li Jianhong, Chairman of the Board of China Merchants Holdings (International), one of the consortium members, stated: "The economic development prospects of the Kumport terminal's hinterland in Turkey are promising. As Turkey is a key node of the 'Silk Road Economic Belt' and the '21st Century Maritime Silk Road,' the Chinese government is actively promoting the implementation of the Belt and Road Initiative, which suggests strong growth potential for future demand in port container logistics services. Furthermore, this acquisition will help further improve our company's global port network layout and create synergies with other terminals under our portfolio, aligning with our overall development strategy. The competitive market position of the Kumport terminal will bring stable financial returns to our company. Our experience and expertise in terminal operations will complement the services provided by other shipping companies currently operating at Kumport, thereby expanding the terminal's customer base and consolidating and increasing its market share."
Driven by the 'Belt and Road' strategy, Chinese shipping and port enterprises are frequently expanding overseas to revitalize port trade in countries along the route. Through equity participation, joint construction, and direct acquisitions of international ports, the talent, capital, and technological advantages of Chinese enterprises are steadily strengthening the foundations of the 'Belt and Road' initiative.