Cosco Shipping Ports acquires shares in the port of Hamburg

Cosco Shipping Ports - A subsidiary of China COSCO Shipping group, specializing in investment activities in seaports around the world - acquired a 35% stake in Container Terminal Tollerort at the port of Hamburg, Germany.

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Container Terminal Tollerort (CTT) - HHLA, Hamburg (Image: HHLA)

Grand Dragon - a wholly owned subsidiary of Cosco Shipping Ports - and Hamburger Hafen und Logistik Akiengesellschaft (HHLA), have signed an acquisition agreement.

Zhang Dayu, managing director of Cosco Shipping Ports said, “We are looking forward to strengthening the cooperative relationship with HHLA through this investment to leverage the complementary advents of both parties and provide better high-quality service to our customers.”

Angela Titzrath, chair of HHLA's executive board, said that through years of efforts, Container Tollort Terminal (CTT) has become the main destination for Cosco Shipping's ships. HHLA and Cosco Shipping Ports aim to develop Tollerort Container Terminal in a joint effort to strengthen logistics connectivity between China and Hamburg.

Tollerort container port has geographical advantages and convenient navigation routes, including the ability to receive large container ships and strong connections to the inland via a well-developed networks of road, sea, rail and waterways.

This transaction is expected to create a new growth engine for the company and provide high-quality supply chain services to all shipping companies worldwide, Cosco Shipping Ports said.

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