Negotiations between Cosco and the Port of Hamburg nearing final stages

The Hamburger Hafen und Logistik AG (HHLA) is negotiating with the Chinese state shipping company Cosco about a stake in the Hamburg container terminal Tollerort. „Negotiations are at an advanced stage,“ says HHLA’s Chief Executive Officer Angela Titzrath. „I expect that we will soon reach an agreement,“ she told the Club of Hamburg Business Journalists. Chinese shipping company Cosco is owned by the Chinese state and operates port terminals as well as shipping lines, and has been trying to invest in a Port of Hamburg terminal for some time. According to German newspaper Die Welt, Cosco wants to acquire 35 percent of the Tollerort terminal.