CSPL, a terminal operator listed in Hong Kong and member of the Cosco Shipping Group, will receive a 35 percent minority stake in the Hamburg container terminal.

HHLA sees the investment as strengthening the customer relationship with its Chinese partner and providing long-term planning security for Container Terminal Tollerort in order to secure capacity utilization and employment at the Port of Hamburg. With CSPL's minority shareholding, CTT will become a so-called "preferred hub" in Europe, i.e. a preferred handling point for Cosco where cargo flows are concentrated.

Angela Titzrath, Chairwoman of HHLA's Executive Board: "The maritime world is currently undergoing major changes. Long-standing and trusting customer relationships, such as those HHLA has maintained for 40 years in goods traffic with China, are therefore particularly important. The first Chinese freighter was handled at Tollerort back in 1982. Since then, the terminal has developed into a hub for the liner services of today's Cosco Shipping Lines. Against this backdrop, HHLA and Cosco are both pursuing the goal of successfully securing the future of CTT and even stronger integration of Chinese logistics flows in Hamburg."

Zhang Dayu, Managing Director of CSPL: "The Container Terminal Tollerort in Hamburg is an important pillar of logistics in Europe and has very good development prospects for the future. We look forward to working with our partner HHLA to unlock the existing potential and successfully develop the site further."

The CTT currently handles two Far East services, a Mediterranean service and a Baltic feeder service from Cosco, among others. Regardless of the agreed minority shareholding of CSPL, CTT will continue to be open to all shipping company customers in HHLA's network.

The CTT is one of HHLA's three container terminals in the Port of Hamburg. The facility has four berths and 14 container gantry cranes. Among other things, Cosco's largest container ships with a slot capacity of 20,000 TEU and more are handled here. The terminal's own railroad station with its five tracks has excellent connections to the hinterland, so that goods can be moved quickly between the European target markets and the CTT.

Completion of the transaction is subject to various approvals under competition and foreign trade law. The Supervisory Board of HHLA has already approved the minority stake.