BERLIN, Jan 6 (Reuters) – German logistics firm HHLA HHFGn.DE and Cosco 601919.SS are close to finalising an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg’s port, HHLA said on Friday.
“We can confirm that… it has been possible to agree on concrete conditions for CSPL’s (Cosco Shipping Ports Ltd) participation in HHLA Container Terminal Tollerort GmbH,” HHLA said in a statement.
It said HHLA and Cosco were still in talks to clarify final details and aimed to finalise the deal soon.
The German cabinet in October gave its approval for Cosco to buy the terminal in Germany’s largest port in a decision pushed through by Chancellor Olaf Scholz that triggered unprecedented protest within the governing coalition.
(Writing by Maria Sheahan, editing by Rachel More)
(c) Copyright Thomson Reuters 2023.
This article contains reporting from Reuters, published under license.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
A Peruvian court ordered the government to oversee a Chinese-owned port near Lima, helping US efforts to curb Beijing’s growing power in the region.
A Peruvian court ordered the government to oversee a Chinese-owned port near Lima, helping US efforts to curb Beijing’s growing power in the region.
Hong Kong conglomerate CK Hutchison has launched arbitration proceedings against Danish shipping group A.P. Moller-Maersk over the takeover of key ports near the Panama Canal, escalating a dispute involving commercial and geopolitical interests.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
