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HHLA Invests In The Adriatic Port Of Trieste

HHLA invests in the Adriatic port of Trieste

Source: Adriaports
Trieste, Italy (PortSEurope) September 30, 2020 – Hamburger Hafen und Logistik AG (HHLA) is to take a majority stake of 50.01% in Trieste port’s multi-function terminal Piattaforma Logistica Trieste srl (PLT). This investment will boost future operations at the port. HHLA signed an agreement with ICOP and Francesco Parisi, who set up PLT, to acquire the stake. With the investment, the German company seeks to
gain a greater share of cargo transported in the Adriatic Sea and will be its third port activity after Odessa (Ukraine) and Tallinn (Estonia) outside Hamburg. Zeno D’Agostino, president of Autorita’ di Sistema Portuale del Mare Adriatico Orientale (AdSP – Eastern Adriatic Sea Port Authority) said that the authority is not an active party to the agreement, but will have the task of verifying all the authorization and implementation steps that will follow. He said that the agreement is the goal expected for decades in which northern and southern Europe combine from a port and strategic point of view, in an alliance that unites Italy and Germany. The president added that the new Silk Road does not end with the Chinese-style Belt And Road Initiative. Until now, a strong European vision was lacking, capable of integrating and balancing points of view and interests from Asia. Such is the strategic contribution that comes today from Trieste, a port with an international soul as demonstrated by the numerous foreign capital already present, including Turkey, Switzerland, Denmark, Hungary, just to name the main ones. Angela Titzrath, Chairwoman of HHLA’s Executive Board commented: “The Adriatic region has been developing very dynamically in the past few years. As the northernmost port in the Mediterranean, Trieste is the southern gateway to Central and Eastern Europe. The investment is a strategic expansion to our existing port and intermodal network. The terminal gives us the opportunity to actively participate in and help shape new and changing cargo flows and underline our ambitions to grow internationally. At the same time, we will continue to enhance our terminals in Hamburg by investing in facilities and technology. We are a Hamburg company, at home in Europe and operating globally.” Francesco Parisi, Chairman of PLT’s Executive Board commented: “HHLA’s participation strengthens the growth prospects of PLT and of the entire Port of Trieste. Our development strategy in the direction of Central and Eastern Europe fits in with HHLA’s orientation. The position of the new partners confirms us in the development of the terminal expansion we are pushing ahead with.” New quays have been constructed at the 28-hectare site in the Free Port of Trieste, which will handle cargo and provide logistical services with an annual handling capacity of 300,000 TEU, 700,000 tonnes of general cargo and 90,000 Ro-Ro units. There is space available for future expansion HHLA rail subsidiary Metrans already connects the Port of Trieste with its European intermodal network, and the port has a significant rail network in its hinterland. Local reports last year suggested that China Merchants group was interested in PLT. Separately, HHLA is planning a restructuring of its terminal business in Hamburg. It hopes to save €50 million in the operation of the Burchardkai (CTB) container terminal by 2025. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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