COSCO SHIPPING Ports Limited announces that the Company will acquire 35% shares of Container Terminal Tollerort in the Port of Hamburg, Germany.
Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports and Ms. Angela Titzrath, Chairwoman of Hamburger Hafen und Logistik Aktiengesellschaft (“HHLA”)’s Executive Board signed the agreement on behalf of the two companies respectively.
Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports, said that Container Terminal Tollerort in the Port of Hamburg is an important logistics hub in Europe and enjoys favorable natural conditions, such as good location, water depth and connects to the hinterland, which has very promising prospect and great potential of development in the future. We are looking forward to strengthening the cooperative relationship with HHLA through this investment to leverage the complementary advantages of both parties and provide better high-quality service to our customers.
Ms. Angela Titzrath, Chairwoman of HHLA’s Executive Board, said that the shipping industry is undergoing drastic changes now, and therefore the long-term stable relationship with customers is very important. HHLA has been committed to developing business opportunities with China since 40 years ago. In 1982, there was the first vessel from China to call at Tollerort Terminal. Through years of endeavors, Tollerort Terminal has become the main calling point for the shipping liners of COSCO SHIPPING. HHLA and COSCO SHIPPING Ports aim to develop Container Terminal Tollerort in joint efforts to enhance the interconnection in logistics business between China and Hamburg.
The Port of Hamburg enjoys great geographical location and have abundant rear collection and distribution facilities as one of the most important trade hubs from Europe to China, which is also an important node of CHINA RAILWAY Express. HHLA is one of the largest ports companies and integrated logistics suppliers in Europe. Leveraging on great geographical location and efficient operations and management capabilities, three container terminals in the Port of Hamburg attracted three major shipping alliances to call at the terminals, which maintains stable business growth in the past few years. Container Terminal Tollerort has stable and promising outlook, which will help bring stable earnings for our Company and meanwhile, maximize the synergy between our Company and liners to provide better high-quality and more efficient services for the customers.
Credit: COSCO SHIPPING