The Chinese shipowning group China COSCO Shipping Corporation has Welcomed the green light given by the Government German acquisition of a share capital of the Container Terminal Tollerort (CTT), the German company HHLA, which operates one of the company's three container terminals in the Port of Hamburg, by COSCO Shipping Ports, the company terminalista of which the Chinese group owns 58.4% of the capital through COSCO Shipping Holdings Co., provided that such participation is less than 24.99% of the capital of CTT
( of
11 May 2023).
The COSCO group, as well as the HHLA, specified that The acquisition will be completed as soon as possible possible time and highlighted that the operation is part of the synergies in place between COSCO Shipping Ports and the shipowning group COSCO to increase the competitiveness of activities terminals. In addition, the Chinese group recalled that about the 30% of the total cargo traffic in the port of Hamburg is consisting of cargoes to and from China and the port port is one of the most important hubs for trade between China and Germany.