Hamburger Hafen und Logistik AG (HHLA) and COSCO SHIPPING Ports Limited (CSPL), a terminal operator listed in Hong Kong and a member of the COSCO SHIPPING Group, are negotiating the purchase of a minority shareholding by CSPL in HHLA Container Terminal Tollerort GmbH (CTT), a wholly-owned subsidiary of HHLA.
CTT operates Container Terminal Tollerort, one of the three HHLA container terminals in the Port of Hamburg, and is part of the HHLA Group's Container segment.
The commercial and legal cornerstones of the potential strategic participation are currently the subject of ongoing negotiations. No legally binding agreement has yet been reached between the two parties. Such an agreement would not only require the internal approval of the respective bodies of both parties, but in particular the approval of the relevant authorities.
HHLA expects the participation to strengthen the relationship with its Chinese partner as well as to provide sustainable planning security for Container Terminal Tollerort in order to safeguard volume and employment in the Port of Hamburg. CTT will continue to be open to all customers within HHLA's network.