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Published:2021.06.11 News Sources:Qingdao Gute Ship Supplies Co., Ltd. Views: | |||
Cosco Shipping Ports is expected to take a stake in Germany's largest container terminal
Europe's third largest port will soon have a new Chinese shareholder! COSCO Shipping Ports, a subsidiary of COSCO Shipping Group, will take a stake in the container terminal of Hamburg, Germany's largest port, in what is expected to be the first non-German operator to acquire a major container gateway terminal in Germany. On June 4, COSCO Marine Ports Co., Ltd. announced ina statement that it is in discussions with Hamburg Ports & Logistics AG (HHLA) regarding a potential transaction to acquire a minority stake in HHLA Container Terminal Tollerort GmbH (CTT), a wholly-owned subsidiary of HHLA. CTT's main business is the operation of Tollerort container terminal in Hamburg, Germany. HHLA confirmed the talks with Cosco Shipping Port. HHLA said it hopes the negotiations will strengthen the relationship with its Chinese partners and provide sustainable planning guarantees for the Tollerort container terminal to ensure cargo traffic and jobs in Hamburg's port. It added that the Tollerort container terminal would remain open to all customers within the HHLA network. Tollerort Container Terminal is HHLA's smallest deep-sea terminal, operating four berths. The terminal is more than 1 km long and has a draft depth of 15.1 meters. Although the smallest terminal in size, Tollerort is known for its efficiency, innovation and flexibility, with modern container cranes capable of handling large ships up to 16,000 TEU. According to the data, Tollerort container terminal serves 18 routes, most of which are regional routes to Europe, as well as Ocean Alliance's Asia-Nordic NEU3 (CMA Fal7 and COSCO Shipping AEU7) routes, which have 10 vessels. The capacity is between 13000-19,000 TEU. Clearly, the locking of COSCO's volume at the Tollerort container terminal was a key factor in HHLA's decision to enter the talks, industry players said. If the deal goes through, it would expand Cosco Shipping's fast-growing business in Europe. It is understood that Cosco's overseas ports are mainly concentrated in the European Mediterranean region, with a controlling interest in the container terminals at Piraeus in Greece, Valencia and Bilbao in Spain and Zeebrugge in Belgium. It also has stakes in the container terminals of Antwerp in Belgium, Las Palmas in Spain and Rotterdam in the Netherlands. Overseas port investment is gradually becoming the top priority of COSCO's maritime port layout, with the designed annual handling capacity of overseas ports reaching 31.9% of the total.
It is understood that the Port of Hamburg, established in 1189, is the traditional and most important material transfer station in the north of Europe and the overseas trade center of the Baltic Sea coastal area. Port of Hamburg boasts four of Germany's most advanced container terminals and three cruise terminals, making it the first port in Germany and the third largest port in Europe, and the 17th container port in the world. |
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