Port – China enters Hamburg – economy

After months of negotiations, Hamburg port logistics specialist HHLA and Chinese terminal operator Cosco have reached an agreement on a stake in the Hamburg Tollerort container terminal (CTT). Cosco Shipping Ports Limited (CSPL) will receive a 35% minority stake, said Hamburger Hafen und Logistik AG (HHLA). In return, Cosco concentrates its flow of goods in the Hanseatic city, and the CTT container terminal will become a “preferred hub” in Europe, ie a privileged transshipment point. Regardless of the deal, the terminal will remain open to all shipping line customers, HHLA said.

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