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COSCO seeks to expand Hamburg footprint
China’s COSCO is strengthening its foothold in northern Europe after tabling a bid to acquire an 80% stake in Hamburg-based stevedore and logistics operator Konrad Zippel
The transaction has been filed with Germany’s Federal Cartel Office and would see COSCO take a majority shareholding in the long-established company, founded in 1876.
Zippel operates around 200 trucks and provides multipurpose cargo handling as well as container transport by road, rail and inland waterway, playing a key role in the Port of Hamburg’s wider logistics ecosystem.
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