German shipping company Hapag-Lloyd says the EU Commission has approved the company’s stake acquisitions in JadeWeserPort Wilhelmshaven, Germany’s largest harbor project and home to its only deep-water container port.
With the closing, Hapag-Lloyd will acquire a 30% stake in Container Terminal Wilhelmshaven (CTW), Germany’s only deep-water container terminal, and 50% of the shares of Rail Terminal Wilhelmshaven (RTW) from terminal operator Eurogate, which will continue to own the remaining shares.
Hapag-Lloyd said its participating in JadeWeserPort will help it further improve its competitive position, especially in Far East trades while at the same time strengthening the North German ports.
The purchase price has not been disclosed.
Container Terminal Wilhelmshaven offers an 18-meter water depth and some of the world’s biggest container gantries capable of loading and unloading ultra-large containerships of any size. In July 2021, JadeWeserPort Wilhelmshaven welcomed the first direct train from China, part of China’s “One Belt One Road” initiative.
Sign up for our newsletter