COSCO Mulls Acquisition Of Container Terminal

Hong Kong-based COSCO Shipping Ports Limited has revealed that  it started negotiations with German container terminal operator Hamburger Hafen und Logistik AG (HHLA) to potentially acquire a minority stake in HHLA Container Terminal Tollerort (CTT). 

“As at the date of this announcement, the parties have not entered into any legally binding agreement in relation to the potential acquisition,” COSCO explained in a statement. 

Offshore Energy – Green Marine has contacted HHLA for a comment on the matter, however, the company is yet to reply. 

CCT, a wholly-owned subsidiary of HHLA, is engaged in the operation of the container terminal at the Port of Hamburg. 

CCT occupies the smallest area (0.6 square kilometres) of all container terminals in Hamburg but it is recognised as high-performing and innovative. Featuring a length of quay wall of 1,065 metres, five berths, the facility has a maximum draught of 15.1 metres. With big gantry cranes at Tollerort, ultra large containerships can be loaded and discharged.-World Maritime News