COSCO acquires stake in Hamburg container terminal

Photo: Port of Hamburg
Photo: Port of Hamburg

COSCO Shipping Group company CSPL has acquired a 35 per cent minority stake in one of the three container terminals at the Port of Hamburg.

With the minority interest of CSPL, Container Terminal Tollerort (CTT) will become a preferred hub in Europe, meaning it will be the preferred transshipment point for COSCO, where cargo flows will be concentrated. Among others, two Far East services, a Mediterranean service, and a Baltic feeder service of COSCO are handled at presently being handled at CTT.

CTT has four berths and 14 container gantry cranes. COSCO's largest container ships with a capacity of 20,000 TEUs and more are handled here.

The closing of the transaction is subject to various competition and foreign trade approvals.

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