Germany's HHLA, China's Cosco Close on Hamburg Port Deal

January 6, 2023

© Wolfgang Jargstorff / Adobe Stock
© Wolfgang Jargstorff / Adobe Stock

German logistics firm HHLA and Cosco are close to finalizing an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg's port, HHLA said on Friday.

"We can confirm that... it has been possible to agree on concrete conditions for CSPL's (Cosco Shipping Ports Ltd) participation in HHLA Container Terminal Tollerort GmbH," HHLA said in a statement.

It said HHLA and Cosco were still in talks to clarify final details and aimed to finalize the deal soon.

The German cabinet in October gave its approval for Cosco to buy the terminal in Germany's largest port in a decision pushed through by Chancellor Olaf Scholz that triggered unprecedented protest within the governing coalition.


(Reuters)

Logistics News

DP World Begins $165 Million Expansion of Maputo Container Terminal Capacity

DP World Begins $165 Million Expansion of Maputo Container Terminal Capacity

Port Canaveral Invests $500 Million in Five-Year Port-Wide Improvement Plan

Port Canaveral Invests $500 Million in Five-Year Port-Wide Improvement Plan

Syria Signs New 30-Year Deal with CMA CGM

Syria Signs New 30-Year Deal with CMA CGM

Adani Ports Sees Higher FY26 Revenue Growth on Robust Volumes

Adani Ports Sees Higher FY26 Revenue Growth on Robust Volumes

Subscribe for Maritime Logistics Professional E‑News

South Korea's FLC purchases about 66,000 T of corn in a private deal, traders claim
Russian ESPO Blend oil shipping rates are at their lowest level since January, traders report
Cargill and LDC among the winners of Brazil's port auction