Chinese investment in Port of Hamburg announced

CSPL

The city of Hamburg’s position as a logistics hub in the North Sea and Baltic region will be strengthened thanks to a minority shareholding deal involving China’s COSCO Shipping Ports (CSPL), Hafen Hamburg (HHLA) has announced.

HHLA and CSPL have agreed to a minority shareholding deal which will see CSPL provided with a 24.99 per cent share in HHLA’s Container Terminal Tollerort.

The terminal in the Port of Hamburg, Germany’s biggest seaport, will now be developed into a preferred handling location for CSPL, where freight flows between Asia and Europe will be concentrated.

In a statement, HHLA refuted claims that the entire port would be sold to China or that the deal was unfair:

“The cooperation between HHLA and CSPL does not create any one-sided dependencies.

“On the contrary: it strengthens supply chains, secures jobs and enables value creation in Germany. Smoothly functioning logistics are a basic requirement for global trade flows and prosperity.”

Send this to a friend