© Luigi Angelica

New acquisitions

COSCO puts down roots in Hamburg

by Port News Editorial Staff

COSCO Shipping Ports will acquire a 35% stake in Hamburger Hafen und Logistik AG’s  Container Terminal Tollerort.

The terminal is one of three container handling facilities in the port of Hamburg. It is equipped with four berths and 14 gantry cranes capable of handling ultra-large, 20,000 TEU container ships.

Cosco Shipping Ports CEO Zhang Dayu said that the terminal is an important logistics hub in Europe and that Cosco is looking forward to strengthening its ties with HHLA. Moreover, through this investment, Cosco will be able to leverage the complementary advantages of both parties and offer its clients better quality services.

Translation by Giles Foster

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