Germany Settles Internal Dispute Over Port Stake Sale to China

The German government is close to reaching a compromise over a disputed sale of a stake in a Hamburg container terminal to China’s state-owned shipping conglomerate Cosco Shipping Holdings Co.

Chancellor Olaf Scholz and his ministers, many of whom were opposed to the deal, may agree on a sale of a reduced 24.9 per cent stake to Cosco, a government official said, who asked not to be identified because the talks are confidential. The stake is just shy of what’s considered a blocking minority in Germany.

The proposed compromise “takes account of the justified concerns about the Cosco investment,” said Verena Hubertz, deputy chairwoman of the parliamentary group of Scholz’s Social Democrats. “This ensures that the Chinese company cannot influence HHLA’s strategic decisions.” The plan would have to be approved by Cabinet on Oct. 26 because it would mean a partial prohibition of the deal. Cosco already owns stakes in port facilities in European cities including Rotterdam and Antwerp.

Cargo Insights is now on WhatsApp Channel! Join Now!

Leave a Reply

Your email address will not be published. Required fields are marked *

Celebrating Success Honouring Cargo & Logistics Industry Leaders at CargoNXT Recognitions Part 1

Celebrating Success: Honouring Cargo & Logistics Industry Leaders at CargoNXT Recognitions

🏆 Embarking on a Journey of Excellence in Cargo & Logistics! 


🚚✨ Witness the outstanding achievements of leaders celebrated at CargoNXT Recognitions: Late Jai Karan Sharma, Vipin Vohra, Dr. Vandana Singh, Keku Bomi Gazder, Dr. Pushpendra Pratap Singh, S. Ramakrishna, Shailender Anand, and Yashpal Sharma. 

You have Successfully Subscribed!