HHLA places Chinese on board
In Hamburg, carrier Cosco Shipping Ports (CSPL) has acquired a 35% minority stake in the container terminal Tollerort (CTT). The seller is Hamburger Hafen und Logistik AG (HHLA). CSPL is a Hong Kong-listed terminal operator and part of Cosco Shipping Group. Financial details were not disclosed.
HHLA CEO Angela Titzrath spoke of "securing capacity utilisation and employment in the port of Hamburg." CTT, which currently handles two Far East services, a Mediterranean service and a Baltic feeder service from Cosco, is one of three container terminals operated by HHLA in the port of Hamburg, where, among other large vessels, container ships with a capacity of 20,000 teu can be processed. Regulatory approval for the transaction is pending. (cd)