Following the completion of the investment screening process, port operators Hamburger Hafen und Logistik AG (HHLA) and COSCO Shipping Ports Limited (CSPL) signed the agreement for CSPL’s minority shareholding in Container Terminal Tollerort (CTT) today (19 June).
Germany approves COSCO investment in Hamburg container terminal
The deal gives CSPL a 24.99% interest in HHLA’s CTT in Hamburg, which will now be developed into a preferred handling location for COSCO, where freight flows between Asia and Europe are to be concentrated.
“The collaboration between the partners thus strengthens the Free and Hanseatic City of Hamburg’s position as a logistics hub in the North Sea and Baltic region as well as Germany’s position as an industrial nation,” said HHLA in a statement.
