The Chinese Cosco Group was to receive a 35 percent stake in a loading station owned by the port operator HHLA in Hamburg for 65 million euros. But there is a dispute.
(Photo: dpa)
Dusseldorf, Berlin On March 1, 2021, there was a jubilant mood at the Port of Hamburg. Angela Titzrath, CEO of the port operator HHLA, had just signed a letter of intent with the Chinese Cosco Group, owner of the world’s fourth-largest container shipping company, which was intended to tie Chinese customers more closely to the Elbe port.
At the container terminal Tollerort (CTT), one of the three loading stations of the port operator HHLA in the Hanseatic city, Cosco was to receive a 35 percent stake for 65 million euros. In return, HHLA guaranteed the Chinese preferential processing. For the port of Hamburg, the deal would be an important step in the competition against Antwerp and Rotterdam.
But to this day it is not sealed. Federal Economics Minister Robert Habeck (Greens) is threatening a ban because he fears too much Chinese influence. “I’m leaning towards the fact that we don’t allow that,” he explained. The deal has been on hold since August.
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