TRIESTE – Negotiations had already been announced, but now the news is official: Cosco Shipping Ports acquires a minority share of 35 per cent in Container Terminal Tollerort (CTT) in Hamburg.
CTT is one of the three terminal at the port of Hamburg and Hamburger Hafen und Logistik AG “expects the participation to strengthen the relationship with its Chinese partner, as well as long-term planning security for Container Terminal Tollerort and secured capacity and employment in the Port of Hamburg. With the minority interest of COSCO Shipping Ports Limited (CSPL), CTT will become a preferred hub in Europe, meaning it will be the preferred transhipment point for COSCO, where cargo flows will be concentrated” HHLA explains in a note.
The closing of the transaction is subject to various competition and foreign trade approvals. HHLA’s Supervisory Board has already approved the minority interest.
The Port of Hamburg is the most important logistical hub for maritime and continental goods trade between China and Europe. Nearly every third container that is handled in Hamburg has its origin in China or is destined for the Chinese market. Not just CTT and HHLA will benefit from this strategic partnership with CSPL – Hamburg’s position as a logistical hub in the European North Range and for the Baltic region will also be strengthened.
Angela Titzrath, Chairwoman of HHLA’s Executive Board: «The maritime world is currently facing intense changes. Long-term, trusting customer relationships – like the ones HHLA has tended to for 40 years in trade with China – are that much more important now. The first Chinese vessel was processed at Tollerort back in 1982. Since then, the terminal has become a hub for liner services of what is now COSCO Shipping Lines. Against this background, HHLA and COSCO equally pursue the goal of successfully securing the future of CTT and an even more efficient dovetailing of Chinese logistics flows in Hamburg».
Zhang Dayu, Managing Director of CSPL: «Container Terminal Tollerort in Hamburg is a keystone of logistics in Europe and has excellent future development prospects. We look forward to working together with our partner HHLA to unleash the existing potential and further develop the terminal».
HHLA also owns the Piattaforma Logistica Trieste, its subsidiary in the Port of Trieste, which recently obtained a concession of 31 years (until 2052), covering a total area of approximately 120.000 square metres.
HHLA also plans to build a new container terminal at the Port of Trieste, while it is now operating a multipurpose terminal.
The project, planned in three phases, does not have a certain timing at the moment,  but it is likely that at least 4-5 years will be necessary before seeing the first part of the future Pier VIII at work,
Too far in time, therefore, to hypothesize scenarios that would see Cosco (the Chinese state company) enter into a partnership in the terminal also in the port of Friuli Venezia Giulia. A confirmation of this also comes from number one of Cosco in Italy, Marco Donati, heard by the specialized web site, SHIPPING ITALY. According to Donati, the new Logistic Platform of Trieste is a newly built infrastructure and, in the container sector, still has everything to prove.