China's success in the Port of Hamburg

The Chinese state-owned shipping company Cosco has acquired a stake in Hamburger Hafen und Logistik AG's (HHLA) Tollerort container terminal (CTT) in the Port of Hamburg via its terminal operator Cosco Shipping Ports (CSPL). The parties involved on both sides have so far remained silent about the amount of the investment, prompting one commentator to state that the negotiations with the Chinese are as transparent as the decision-making processes in the Politburo of the Chinese Communist Party. HHLA, which for a long time had only communicated a "minority stake", has since admitted that Cosco's shareholding is between 30 and 40 per cent. Port experts in the Hanseatic city assume that 40 per cent is more likely than a figure below that. It has also been confirmed that the Chinese will occupy a position on the terminal's management board.
By acquiring a stake in one of HHLA's three container terminals, the Chinese have now succeeded in gaining a foothold in Germany's largest seaport after repeated unsuccessful attempts. The head of HHLA's Executive Board reassuringly categorised the process as commonplace, as shipping companies' shareholdings in handling companies are a common means of securing exclusive or preferred handling capacities in ports worldwide, with the port companies tying the shipping companies to them in return. Numerous examples would confirm this. Hamburg's mayor, as head of HHLA, which is majority-owned by the city, echoed this view. This explanation ignores the fact that Cosco is a shipping company owned by a state that rigorously uses every lever at its disposal to assert its interests. The numerous critics emphasise that terminal participation can be such a starting point, both economically and politically. For example, when it comes to the expansion of Beijing's global Silk Road initiative, as there are numerous examples of this. "Ports are particularly valuable for China, which is dependent on maritime trade. They also fulfil an important strategic function both in times of peace and conflict," write Clive Hamilton and sinologist Mareike Ohlberg in their book "The Silent Conquest".

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