Join our crew and become one of the 109,960 members that receive our newsletter.

port hamburg

Port of Hamburg, file image (c) Inga Nielsen/shutterstock.com

Hamburg Mayor Says Rejecting China COSCO Bid for Container Terminal Would Be Competitive Disadvantage

Reuters
Total Views: 1297
September 19, 2022

BERLIN, Sept 19 (Reuters) – Germany would put its port of Hamburg at a competitive disadvantage if it quashed a bid from China’s Cosco to buy a stake in a container operator, the port city’s mayor said.

A rejection would be “a one-sided, competition-distorting disadvantage for Hamburg compared to Rotterdam and Antwerp, where Cosco already owns terminal shares,” Mayor Peter Tschentscher told Reuters.

“In order to keep up with international competition, it must also be possible for shipping companies to participate in terminals in Hamburg if this makes business sense,” Tschentscher added.

Economy Minister Robert Habeck said in an interview with Reuters last week that he was leaning towards not allowing the deal, which would give China a stake in German critical infrastructure.

(Reporting by Andreas RinkeWriting by Miranda Murray and Rachel MoreEditing by Mark Potter)

(c) Copyright Thomson Reuters 2022.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 109,960 members delivered daily straight to your inbox.