COSCO Shipping Ports Limited (CSPL) has taken on a 35% minority share in the Hamburger Hafen und Logistik AG (HHLA) Container Terminal Tollerort (CTT).
HHLA expects the participation to strengthen the relationship with its Chinese partner, as well as long-term planning security for CTT and secured capacity and employment in the Port of Hamburg.
Angela Titzrath, chairwoman of HHLA’s executive board, said: “The maritime world is currently facing intense changes. Long-term, trusting customer relationships – like the ones HHLA has tended to for over 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 logistic flows in Hamburg.”
With the minority interest of 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.
Among others, two Far East services, a Mediterranean service and a Baltic feeder service of COSCO are handled at CTT today.
Notwithstanding the agreed minority interest of CSPL, CTT will continue to be open to all shipping lines.
Zhang Dayu, managing director of CSPL, said: “CTT in Hamburg is a key-stone 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.”
CTT is one of three HHLA container terminals at the Port of Hamburg, boasting four berths and 14 container gantry cranes, and COSCO’s largest container ships with a capacity of 20,000 teu and more are handled there.
The terminal’s own railway station is excellently connected to the hinterland, operating five tracks, meaning goods can be moved quickly between CTT and European destinations.
Hamburg is one of the most important logistical hubs for maritime and continental goods trade between China and Europe.
Nearly every third container that is handled at the port has its origin in China or is destined for the Chinese market.
This strategic partnership between HHLA and CSPL will not only benefit CTT but also the Port of Hamburg, wherein its position as a logistical hub in the European North Range and for the Baltic region will also be strengthened.