German government approves COSCO to acquire 24.9% equity in Hamburg Port's CTT HHLA 2023-05-12 10:09

The way is clear to finalise CSPL's investment in CTT

Hamburger Hafen und Logistik AG (HHLA) welcomes the decision of the German government to approve the 24.9 percent minority shareholding of the Chinese company COSCO Shipping Ports Limited (CSPL) in Container Terminal Tollerort (CTT). All issues within the scope of the investment screening process were clarified jointly in intensive, constructive talks.

The decision will now enable CTT to be expanded into a preferred handling location for HHLA’s long-standing customer COSCO, where freight flows between Asia and Europe will concentrate. China is currently Germany’s and the Port of Hamburg’s largest trading partner: around 30 percent of the goods handled in the Port of Hamburg come from China or go to China. CSPL’s minority shareholding thus secures employment and boosts Hamburg’s national and international importance as a logistics hub as well as Germany’s position as an industrialised nation. Approximately 1.35 million jobs in Germany depend on the ports. HHLA is aware of its importance when it comes to supplying companies and consumers in Germany and Europe.
HHLA and CSPL will finalise the transaction soon.

Source: HHLA

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

Please Contact Us at:


Related Posts

Pireaus Port gets new lease of life 13 years after Chinese acquisition


Qingdao Port sets new record for cargo capacity


Tianjin Port keeps cargo on the move

China Daily2023-09-21

China's Beibu Gulf Port sees over 200 mln tonnes cargo throughput in Jan-Aug


SPG's Yantai Port opens new cargo route to the Middle East


CMPort's Performance Shows Steady Growth in the First Half of 2023