The Port of Hamburg will not be sold
https://hhla.de/en/investment-cosco-fact-check
COSCO Shipping Port Limited does not gain access to the
Port of Hamburg or HHLA. The transaction only affects a minority interest of
less than 25 percent in the HHLA operating subsidiary Container Terminal
Tollerort GmbH.
HHLA
retains sole control
HHLA retains sole control over all major decisions. With
the entry of COSCO, the container terminal in Tollerort will become a preferred
hub for Asian traffic. However, COSCO has no exclusivity rights there - the
terminal remains open for container volumes from all customers.
No
access to strategic know-how
COSCO gains no access to strategic know-how. The port
infrastructure remains the property of the Free and Hanseatic City of Hamburg.
IT and sales data remain solely at HHLA's responsibility. German law continues
to apply in all matters.
No
dependencies
The cooperation between HHLA and COSCO does not create any
one-sided dependencies. On the contrary: it strengthens supply chains, secures
jobs and enables value creation in Germany.
Smoothly functioning logistics are
a basic requirement for global trade flows and prosperity. Progress and
security can only be achieved on the basis of cooperation as well as common
goals and interests.
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