Following the completion of the investment screening process, Hamburger Hafen und Logistik AG (HHLA) and COSCO Shipping Ports Limited (CSPL) signed the agreement for CSPL’s minority shareholding in Container Terminal Tollerort (CTT) on 19 June 2023, according to HHLA.
This agreement provides CSPL with an interest of 24.99 percent in HHLA’s Container Terminal Tollerort in Hamburg.
CTT will now be developed into a preferred handling location for HHLA’s long-term customer COSCO, where freight flows between Asia and Europe are to be concentrated.
In October 2022, HHLA and CSPL agreed under certain conditions to discuss a shareholding of less than 25 percent in HHLA Container Terminal Tollerort GmbH with the German government. The parties agreed not to disclose the contents of the agreement.
According to earlier statements of HHLA, China is currently Germany’s and the Port of Hamburg’s largest trading partner: around 30 percent of the goods handled in the Port of Hamburg come from China or go to China.