Business vs. security

Chancellor Scholz has got his way: a Chinese state-owned company may acquire a stake in Germany's critical maritime infrastructure. Is the economic opportunity worth the risk of exerting influence?

Contrary to the reservations of all six ministries involved, above all the lead ministry for economic affairs and the Foreign Office, as well as warnings from Brussels and the intelligence services, Federal Chancellor Olaf Scholz has decided to hold on to an investment in the Tollerort container terminal of Hamburg port logistics company HHLA by the port subsidiary of the Chinese maritime state-owned group Cosco - a "power word" from the Chancellor using his authority to issue directives.

HHLA and Cosco Shipping Ports Limited (CSPL) had agreed to acquire a 35 per cent stake in Container Terminal Tollerort GmbH (CTT). HHLA hailed this as "strategic" and CSPL wanted to "realise the existing potential together with the partner and further develop the site". According to CSPL, the Tollerort terminal was to become a "preferred hub" in Europe, i.e. a favoured handling point for Cosco where cargo flows are concentrated.