Germany will reevaluate its decision to allow COSCO Shipping Ports to purchase a 24.9% stake in Hamburger Hafen und Logistik AG (HHLA) Container Terminal Tollerort (CTT), a major box terminal in Hamburg.
A spokesperson from the economy ministry of Germany stated that the government will examine its decision again, as the conditions have changed.
Tollerort terminal was classified as critical infrastructure this year and as a result, the German government wants to review if and under what conditions would allow the involvement of COSCO, which is owned by the Chinese government, in its major port network.
“The German side is very clear about the ins and outs of the Hamburg port issue, we hope the German side will refrain from politicising commercial cooperation, making it something about ideology or security, and setting barriers to such cooperation,” responded Chinese foreign ministry spokesperson Wang Wenbin in a regular briefing.
The German government had given the green light for the COSCO takeover of a 24.9% stake in CTT in October 2022.
