© Michela Canalis

Deadline for the acquisition of Tollerort Container Terminal extended

Cosco’s expansion at risk

by Port News Editorial Staff

The deadline for finalizing the acquisition of a 35% stake in the Port of Hamburg’s Tollerort Container Terminal by Cosco Shipping Ports has been extended to 31st  December.

The delay, which is formally justified by the failure to meet certain conditions attached to the agreement, is mainly due to the growing geopolitical uncertainties, which are leading the governments of European countries to tighten their control over investments made by China and its state-owned giants.

The agreement, worth 76.3 million dollars, was reached last September between CSP and Hamburger Hafen und Logistik Aktiengesellschaft, the owner of the terminal company.

The terminal has five tracks 700 metres long. The quay can accommodate up to four container ships, which can be up to 400 metres long and have a capacity of up to 16 thousand TEUS. For the storage of goods, it offers warehouses on a 600 thousand square metre logistics area.

Translation by Giles Foster

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