COSCO SHIPPING Ports Limited announced that the company will acquire 35% of the shares of the Container Terminal Tollerort at the port of Hamburg.

Mr. Zhang Dayu, CEO of COSCO SHIPPING Ports, and Ms. Angela Titzrath, Chairwoman of Hamburger Hafen und Logistik Aktiengesellschaft (“HHLA”), signed the agreement on behalf of their respective companies.

Mr. Zhang Dayu, CEO of COSCO SHIPPING Ports, stated that “The Container Terminal Tollerort at the port of Hamburg is an important logistics hub in Europe and enjoys favorable natural conditions, such as a good location, water depth, and connectivity to the hinterland, with a promising outlook and great development potential in the future. We look forward to strengthening our cooperation with HHLA through this investment to leverage the complementary advantages of both parties and provide better high-quality services to our customers.'”

Ms. Angela Titzrath, Chairwoman of the Executive Board of HHLA, stated that the shipping industry is undergoing drastic changes now and, as a result, maintaining a long-term stable relationship with customers is very important. HHLA has been committed to developing business opportunities with China for 40 years.

The HHLA and COSCO SHIPPING ports aim to develop the Container Terminal Tollerort through joint efforts to strengthen the connectivity of logistics businesses between China and Hamburg.

The port of Hamburg has an excellent geographical location and offers abundant collection and distribution facilities as one of the most important commercial hubs from Europe to China, which is also a key hub for the CHINA RAILWAY Express. HHLA is one of the largest port companies and integrated logistics providers in Europe. Leveraging its favorable geographical location and efficient operations and management capabilities, three container terminals at the port of Hamburg have attracted three major shipping alliances for steady business growth in recent years.

Source: nafs.gr