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The Port of Hamburg warns the German government not to block COSCO Shipping’s investment!

Political resistance from Berlin, Germany is causing anxiety for the Port of Hamburg, according to German foreign media. The German port of Hamburg said it would be a “disaster” if the German government prevented COSCO Shipping from becoming a co-owner of the port’s container terminal. Cup Paper Fan

“Rejecting the Chinese would be a disaster, not only for the port but also for Germany,” said Axel Mattern, chief executive of the Port of Hamburg.

A year ago COSCO Shipping Ports Ltd. announced the acquisition of a 35 percent stake in Container Terminal Tollerort (CTT Terminal) in the German port of Hamburg. But the deal had to be approved by the German Ministry of Commerce, which is still in the process of approving it. Fan For Paper Cup

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Foreign media reported that the German Minister of Commerce opposed the sale of shares to COSCO Shipping, a company from China, on the grounds that it would give China influence over the infrastructure of the German port.

Mattern, head of the Port of Hamburg, countered: “There is no risk in the investment by COSCO Shipping. It involves only a minority stake in the company operating the Tollerort terminal, which COSCO Shipping already uses to a large extent.” Paper Fan For Cups

Foreign media commented that the German government is in fact more critical of Chinese companies than ever before due to geopolitical influences, so COSCO Shipping’s investment in the port of Hamburg could be one of the first victims of Germany’s “tough policy” toward China.

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Information shows that the port of Hamburg is Germany’s largest port, one of the most important hubs of Europe’s trade with China, has a wealth of back-end collection and distribution facilities, is also an important European node of the China-Europe liner. CTT as one of the three terminals in the port of Hamburg, with four berths and 14 container cranes, is currently providing services for COSCO Shipping’s two Far East routes, a Mediterranean route and a Baltic feeder route. . The Port of Hamburg has also been awarded the “Best European Seaport” five times in 2015, 2016, 2020, 2021 and 2022, plus the “Best Global Seaport” award in 2018 and 2019, making a total of seven The awards will be given to the best seaports in Europe five times in 2015, 2016, 2020, 2021 and 2022, plus the best seaports in the world in 2018 and 2019. Paperjoy paper cup fan


Post time: Sep-14-2022