COSCO Shipping entered the Hamburg Port and withdrew from Duisburg Port


Following the conditions for the German government to approve the acquisition of a minority equity (24.9%) of the CTT Terminal of the Hamburg Port CTT Port, German media reported that the German media reported that the Zhongyuan Sea Transport Logistics had sold the Gateburg Gateway Port of Duisburg Port (DGT, DGT Gateway in June (DGT Terminal) 30%of the shares. The Duisburg Port Group confirmed the transaction and added that the transaction was not confidential, and companies or institutions with no other Chinese background have the equity of Duisburg Port or its infrastructure.

Duisburg Port is the world's largest inland port and Europe's premier logistics hub. In 2021, the container throughput was completed by 4.3 million TEUs, and the cargo throughput was 111 million tons; 30%of the trade volume in the China -Europe trains was processed by Duisburg Port.

The DGT Wharf project was launched in 2019 with a total investment of 100 million euros. It is expected to be completed in mid -2023. It will become the largest inland container terminal in Europe. 20%of each contributed with Hupac, the dock will be built on Coal Island with an area of 220,000 square meters. It will be equipped with 6 bridges, 12 railway freight platforms, 5 loaded areas, 3 barrier berths and 60,000. The annual throughput of the container storage area is expected to be 850,000 standard boxes.

Although the Zhongyuanhai Transport Logistics has participated in it since the project is opened, it rarely publicize the matter, including the launching activity in the dock in March, and did not send representatives to participate. By June, COSCO Shipping Logistics sold its equity. In July, the list of stakes at the terminal showed that Duisburg Port held 60%of the shares, and Hupac and HTS Intermodal each held 20%.

However, the news about the withdrawal project of the COSCO Transport Logistics this week was announced. The Duisburg Port Group said that it had agreed not to disclose the reason and stated that the transaction did not affect the completion schedule of the dock. The Duisburg Port Group has not explained why the news was announced at this time. German media quoted people familiar with the matter that the decision to terminate cooperation was made by the Zhongyuan Sea Logistics, not due to the pressure of German politics.

A spokesman for the Duisburg Port Group emphasized that COSCO Maritime Group will continue to become an important customer. The group has maintained good trust and cooperation with Chinese companies and partners for many years, and has become the European terminal of the railway connection between China and Europe.

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