COSCO could buy into the Port of Hamburg

The state-owned Chinese shipping company COSCO apparently wants to acquire a stake in the Port of Hamburg. The company is already negotiating with the port operator, NDR reports. Specifically, Hamburger Hafen und Logistik AG (HHLA) wants to cede a 30 to 40 percent stake in the Tollerort container terminal to the Chinese investor. Tollerort is one of the four major container terminals in the Port of Hamburg. If the deal goes through, COSCO ships could expect preferential treatment there, the TV station reported. The German government had no objections to the takeover. fin