shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Hamburg Port Backs COSCO Terminal Acquisition Over German Government’s China Concerns

Hamburg Port Backs COSCO Terminal Acquisition Over German Government’s China Concerns

by Joshua
September 26, 2022
in Coast To Coast

Hamburg Hafen und Logistik AG said the German government shouldn’t block a Chinese acquisition of a stake in a container terminal, arguing that the deal will bring investment to the port and poses no threat to national security.

COSCO SHIPPING
FILE PHOTO: Chinese container ship “Cosco Shipping Aries” is unloaded at a loading terminal in the port of Hamburg Germany

China’s Cosco Shippings Holding Co Ltd announced Tuesday it had delayed a bid to acquire a 35% stake in the Tollerort terminal, the smallest of the four container facilities at Germany’s largest seaport.

That was after Economy Minister Robert Habeck indicated last week the government would likely veto the deal due to concerns related to Chinese investment in critical infrastructure. Habeck, a member of the Greens party, and other officials from Chancellor Olaf Scholz’s ruling coalition have recently sharpened their criticism of Beijing over its human rights record and indicated a tougher line on trade with China.

“There are no substantial reasons why this deal should be blocked,” a spokesman for Hamburg Hafen said Thursday. A spokesman for the economy ministry in Berlin said there were no new developments to report.

China’s Belt and Road program, an ambitious plan to develop new trade lines for Asia’s powerhouse economy, has seen Beijing-backed companies invest in infrastructure assets across Asia and into western Europe.

Cosco, China’s largest shipping company, has acquired major stakes in strategically important ports, including a majority holding in the Greek port of Piraeus, the main seaport for Athens.

Germany considers ports to be critical infrastructure, allowing the government to screen and block acquisitions of larger stakes in them by non-European companies.

Germany should only approve Cosco’s bid on the condition the company can be effectively monitored, particularly the digital infrastructure it uses to process goods, according to Rolf Langhammer, a trade expert at the IfW research institute in Kiel.

Read Also:  CSSC Wraps Up Delivery Of CMA CGM’s 15,000 TEU Newbuilds

“The same applies to Cosco’s pricing policy, which must not result in competitors being squeezed out of the market as a result of support from the Chinese state,” Langhammer said Thursday in an emailed statement.

“Conditions are necessary because, firstly, Cosco is a state-owned company created from mergers with other Chinese shipping companies and is under the direct influence of the government, whose strategic goals are unknown,” he added.

Scrutiny of Chinese infrastructure purchases has grown in recent years due to concerns about the country’s geopolitical intentions.

Cosco and Hamburg Hafen will continue to work toward closing the deal and have agreed to extend the deadline for all obligations to be fulfilled to the end of this year, according to a statement published Tuesday.

shippingposition

Kindly like us on Facebook/twitter


Tags: Hamburg Port

Related Posts

Mawani Grants SGP Four 20-Year Port Concessions

Mawani Grants SGP Four 20-Year Port Concessions

June 30, 2025
Ningbo-Zhoushan Container Volumes Hit New Record In H1

Ningbo-Zhoushan Container Volumes Hit New Record In H1

June 30, 2025
IMO Agrees To Start Revision Of Outdated Regulations For Nuclear-Powered Ships

IMO Agrees To Start Revision Of Outdated Regulations For Nuclear-Powered Ships

June 30, 2025
Ships Near Hormuz Sending Unusual Messages to Deter Attacks

Ships Near Hormuz Sending Unusual Messages to Deter Attacks

June 30, 2025

Latest News

Vessels Expected At Lagos Ports As At 9th July, 2025

FG Donates 3,500 Life Jackets to Boost Waterways Safety in Ogun State

July 9, 2025

Dangote Commends NPA-Led OSS Committee, Donates Bus to Support Operations

Customs Intercepts ₦654m Worth of Undeclared Foreign Currency at Kano Airport, Hands Over Suspects to EFCC

Vessels Expected At Lagos Ports As At 9th July, 2025

CRFFN Dismisses Viral Court Judgement Reports, Reaffirms Regulatory Mandate over Freight Forwarders

Lagos Govt. Dismantles Illegal Checkpoints Along Badagry Expressway

Nigeria Customs Sensitises International Airline Operators on Currency Declaration

PHOTO NEWS Collaboration For Trade Facilitation

Vessels Expected At Lagos Ports As At 8th July, 2025

Nigerian Exporters Lament as Road Freight to Ghana via Benin, Togo Costs Over ₦10 Million Per Truck  

NIWA Responds to Lagos State’s Call to Halt Sand-Filling Approvals on Waterways 

Shippers’ Council Recovers Over N5.5 Million in Container Deposit Refunds, Demurrage Disputes in Q1

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition