COSCO terminal stake

CSP has confirmed it will acquire 35% of the shares in HHLA’s Container Terminal Tollerort (CTT) in the Port of Hamburg, Germany. Port Strategy reported that negotiations were underway in June.

Zhang Dayu, managing director of CSP, said CTT “is an important logistics hub in Europe and enjoys favourable natural conditions, such as good location, water depth and connects to the hinterland, which has very promising prospect and great potential of development in the future”.

He added: “We are looking forward to strengthening the cooperative relationship with HHLA through this investment to leverage the complementary advantages of both parties and provide better high-quality service to our customers.”

Angela Titzrath, chairwoman of HHLA’s executive board, stated: “HHLA has been committed to developing business opportunities with China since 40 years ago. In 1982, there was the first vessel from China to call at Tollerort Terminal. Through years of endeavors, Tollerort Terminal has become the main calling point for the shipping liners of COSCO SHIPPING. HHLA and COSCO SHIPPING Ports aim to develop Container Terminal Tollerort in joint efforts to enhance the interconnection in logistics business between China and Hamburg.”

CTT features four berths and a 15.1m maximum draft. It includes 14 container cranes and a railway facility.