According to an insider at China COSCO Shipping Corporation, COSCO Shipping Port, a subsidiary of COSCO Shipping, has shown interest in bidding for a tender to build and operate a third shipping container terminal at Spain’s largest port of Algeciras. This inquiry is a clear indicator of the company's ambitions to expand its European footprint.

The Algeciras Port Authority has set a Nov. 30 deadline for companies to submit bids for a 50-year concession for a public or dedicated terminal that must include “automated solutions.” The area, 37 hectares, has a total quay lane of 810 meters. It is located in southern Spain and faces to the northeast of the Strait of Gibraltar, connecting the Atlantic Ocean and the Mediterranean Sea.

China COSCO Shipping has been expanding in Europe since merging with China Shipping in February. Two weeks ago, China COSCO Shipping sealed the acquisition of a 67 percent stake in the Greek port of Piraeus. This May, COSCO Shipping Port acquired a 35 percent stake in EUROMAX Terminal in Rotterdam at a cost of 125 million euros. Additionally, the Group is also running shipping container terminals in Antwerp at Zeebrugge Port.

The new conglomerate is currently operating all port businesses in China. COSCO Shipping Port changed its name from China COSCO Pacific on Aug. 22.