COSCO SHIPPING Ports Limited, the world’s leading ports operator, has announced that the Company will acquire 35% shares of Container Terminal Tollerort in the
Port of Hamburg, Germany. Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports
and Ms. Angela Titzrath, Chairwoman of Hamburger Hafen und Logistik Aktiengesellschaft
(“HHLA”)’s Executive Board signed the agreement on behalf of the two companies
respectively.
Mr. Zhang Dayu, Managing Director of COSCO SHIPPING Ports, said that Container
Terminal Tollerort in the Port of Hamburg is an important logistics hub in Europe and enjoys
favorable natural conditions, such as good location, water depth and connects to the
hinterland, which has very promising prospect and great potential of development in the
future. We are looking forward to strengthening the cooperative relationship with HHLA
through this investment to leverage the complementary advantages of both parties and
provide better high-quality service to our customers.
Ms. Angela Titzrath, Chairwoman of HHLA’s Executive Board, said that the shipping industry
is undergoing drastic changes now, and therefore the long-term stable relationship with
customers is very important. HHLA has been committed to developing business opportunities
with China since 40 years ago. In 1982, there was the first vessel from China to call at
Tollerort Terminal. Through years of endeavors, Tollerort Terminal has become the main
calling point for the shipping liners of COSCO SHIPPING. HHLA and COSCO SHIPPING
Ports aim to develop Container Terminal Tollerort in joint efforts to enhance the
interconnection in logistics business between China and Hamburg.
The Port of Hamburg enjoys great geographical location and have abundant rear collection
and distribution facilities as one of the most important trade hubs from Europe to China, which
is also an important node of CHINA RAILWAY Express. HHLA is one of the largest ports
companies and integrated logistics suppliers in Europe. Leveraging on great geographical
location and efficient operations and management capabilities, three container terminals in
the Port of Hamburg attracted three major shipping alliances to call at the terminals, which
maintains stable business growth in the past few years. Container Terminal Tollerort has stable and promising outlook, which will help bring stable earnings for our Company and
meanwhile, maximize the synergy between our Company and liners to provide better
high-quality and more efficient services for the customers.
