Duisport is not Tollerort
In Germany, Cosco has sold its shares in the Duisburg Gateway Terminal (DGT) to Duisport, the operator of the port of Duisburg, as it was announced recently. The Chinese player had held 30% of the shares. So far, neither party has not disclosed what lies behind this step.
According to German public media, the transaction took place in June but was kept confidential. Initial predictions estimated that the DGT was expected to handle 850,000 teu per year by, among other connections, welcoming over 100 weekly trains coming from the New Silk Road.
The news comes just days after Cosco was granted the acquisition of a limited number of shares in the Container Terminal Tollerort (CTT) in Hamburg. While Cosco initially aimed at taking over 35% of the terminal's shares, the German cabinet and government decided on a limit of 25%.
The DGT was launched in 2019 with the four investors Duisport (30%), Cosco (30%), Dutch HTS (20%) and Swiss Hupac (20%), coming up to a joint investment of EUR 100 million. The terminal will be located on the former Coal Island of Germany’s biggest inland port. Ground breaking took place in summer 2022. (sh)