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COSCO SHIPPING Ports To Acquire 35% Shares Of Container Terminal Tollerort In Hamburg

COSCO SHIPPING Ports to acquire 35% shares of Container Terminal Tollerort in Hamburg

Source: COSCO Shipping Ports Ltd
Hamburg, Germany (PortSEurope) September 21, 2021 – COSCO SHIPPING Ports Limited has announced that it will acquire 35% of the shares of Container Terminal Tollerort in the Port of Hamburg. The agreement was signed by Angela Titzrath, Chairwoman of Hamburger Hafen und Logistik Aktiengesellschaft (HHLA)’s Executive Board and Zhang Dayu, Managing Director of COSCO SHIPPING Ports. Titzrath, Chairwoman of HHLA’s Executive Board, said that the
shipping industry is undergoing drastic changes now, and therefore the long-term stable relationship with customers is very important. Over the years, Tollerort Terminal has become the main calling point for the shipping liners of COSCO SHIPPING. HHLA and COSCO SHIPPING Ports aim to develop Container Terminal Tollerort in joint efforts to enhance the interconnection in logistics business between China and Hamburg. Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports, said that Container Terminal Tollerort in the Port of Hamburg is an important logistics hub in Europe and enjoys favorable natural conditions, such as good location, water depth and connects to the hinterland, which has very promising prospect and great potential of development in the future. An HHLA press release said, “CTT is one of three HHLA container terminals at the Port of Hamburg. The terminal has four berths and 14 container gantry cranes. COSCO’s largest container ships with a capacity of 20,000 TEU and more are handled here. With its five tracks, the terminal’s own railway station is excellently connected to the hinterland, meaning goods can be moved quickly between CTT and European destinations. The Port of Hamburg is the most important logistical hub for maritime and continental goods trade between China and Europe. Nearly every third container that is handled in Hamburg has its origin in China or is destined for the Chinese market. Through this strategic partnership with CSPL, it is not just CTT and HHLA that will benefit – Hamburg’s position as a logistical hub in the European North Range and for the Baltic region will also be strengthened”. The share acquisition is subject to regulatory approval. Copyright (C) PortSEurope. All Rights Reserved. 2021.

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