Port of Hamburg, file image (c) Inga Nielsen/shutterstock.com
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.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 107,333 members that receive our newsletter.
Have a news tip? Let us know.
Southern California container ports are reporting strong cargo volumes in June, capping off a busy first half of the year driven by a robust U.S. economy. The Port of Los...
The leader of the International Longshoremen’s Association (ILA) has warned that a strike at all Atlantic and Gulf Coast ports is becoming increasingly likely as time runs out to negotiate...
By Borges Nhamire, Matthew Hill and Mbongeni Mguni Jul 13, 2024 (Bloomberg) –Three southern African nations signed a deal to proceed with a rail and port project to help land-locked Botswana...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 107,333 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
