Cosco Shipping Ports seeks minority stake in Hamburg terminal
HAMBURG terminal operator Hamburger Hafen Lieblings Arbeitsplatz (HHLA) has begun talks with Cosco Shipping Ports over the sale of a minority stake in its Container Terminal Tollerort (CTT) operation, reports London's Loadstar
10 June 2021 - 19:00
If successful, it would be the first time a non-German operator has bought into the country's main container gateway.
CTT is the smallest of HHLA's deepsea terminals, operating four berths across one kilometre of quay and 15.1 metres alongside.
CTT also serves 18 liner services, most of which are European feeders, though it does handle the Ocean Alliance's (NEU3) Asia-North Europe services.
'HHLA expects the participation to strengthen the relationship with its Chinese partner as well as to provide sustainable planning security for Container Terminal Tollerort to safeguard volumes and employment in the Port of Hamburg,' said Cosco.
Cosco also has investments in Antwerp and Spain showing volumes from its non-Chinese facilities now account for 23 per cent of group throughput.
Total first-quarter throughput on an equity-adjusted basis came in at 9.2 million TEU, year-on-year growth of 7.2 per cent.
Meanwhile, HHLA recorded a 7.2 per cent volume decline in its three Hamburg terminals during the first three months of the year due to congestion issues.
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