Cosco aquires one third of Hamburg's Tollerort terminal

Port of Hamburg and Chinese Cosco group's port business have struck a deal that awards Cosco 35 percent of the shares in the container terminal Tollerort in Hamburg. The deal is set to make Hamburg a central hub for freight traffic to and from China.

Photo: Michael Lindner/Port of Hamburg Marketing

The Hamburg port company Hamburger Hafen und Logistik (HHLA) has reached an agreement with Chinese Cosco Shipping Ground and accepted the terms for a Chinese investment that will turn the Hamburg-based Container Terminal Tollerort (CTT) into Cosco's terminal of choice in the region.

The negotiations on a "strategic investment" in the Tollerort terminal have been going on since early summer and award Cosco a stake of 35 percent of the shares in the Container Terminal Tollerort, according to a press release issued by HHLA.

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