- Hapag-Lloyd is investing in the JadeWeser Deepwater port
- Hapag-Lloyd will acquire a 30% stake CTW and 50% of the shares of RTW
- Cosco CSPL struck a deal with HHLA to acquire a 35% stake in HHLA
Hapag-Lloyd is investing in the JadeWeserPort deepwater port in Wilhelmshaven just days after Cosco acquired a stake in a rival container port in Hamburg, reports an article published in Splash247.
About the deal
Hapag-Lloyd is investing in the JadeWeser Deepwater port in Wilhelmshaven just days after Cosco acquired a stake in a rival container port in Hamburg. The company is taking over 30% of the container terminal and 50% of the shares of the rail terminal at JadeWeserPort.
Hapag-Lloyd took over the shares from Maersk’s APM Terminals, but it is not known how much the Hamburg-based liner paid. The remaining 70% is to remain with the Bremen terminal operator, Eurogate.
Subject to approval by the antitrust authorities, contract closing is expected within a few months. Hamburg and Wilhelmshaven are competitors in container handling and so far, Hapag-Lloyd has mainly handled containers in Hamburg.
A Hapag-Lloyd spokesperson said the company will not speculate about any possible impacts for Hamburg or Wilhelmshaven.
About Cosco’s deal with HHLA
Last week, rival Cosco, through its terminal operator, Cosco Shipping Ports Limited (CSPL), struck a deal with Hamburger Hafen und Logistik (HHLA) to acquire a 35% stake in HHLA Container Terminal Tollerort (CTT), marking the first investment by a non-German operator into the country’s main container port.
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Source: Splash247
