U.S. ‘strongly suggested’ there be no controlling interest by China in Hamburg port terminal

U.S. 'strongly suggested' there be no controlling interest by China in Hamburg port terminal

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MUNSTER, Germany : The United States “strongly suggested” that there would be no controlling interest by China in the Hamburg port terminal, a senior U.S. State Department official said, adding that the final deal was adjusted in the end with no controlling stake for Beijing.

Shipping giant Cosco made a bid last year to take a 35 per cent stake in one of logistics firm HHLA’s three terminals in Germany’s largest port, but the German coalition has been divided over whether to let the deal go ahead.

Germany may allow China’s Cosco to take a smaller stake than originally planned in a Hamburg port terminal, in what an economy ministry source last week described as an “emergency solution” to approve the deal but mitigate the impact.

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