2023 June 19 (Monday), after the completion of the final investment review process, Hamburg Port and Logistics Co., Ltd. (hereinafter referred to as HHLA) and COSCO Shipping Port Co., Ltd. (hereinafter referred to as CSPL) today in Hamburg Port Tollerort "Fudi" Container Terminal (CTT) signed the final equity acquisition agreement.

According to the agreement, COSCO SHIPPING Ports Co., Ltd. will acquire a 24.99 per cent minority stake in the "Fudi" container terminal Tollerort the Port of Hamburg. The CTT container terminal will also become the preferred berthing terminal for the COSCO Shipping Group (COSCO) to handle cargo transportation between Asia and Europe. This cooperation between the two parties strengthens Hamburg as an important domestic and international logistics hub in Germany, as well as Germany's important position as an industrial power.

Source: Shipping Industry