China Ocean Shipping (Group) Company (COSCO) and China Shipping Container Lines (CSCL) announced to further strengthen the Port of Hamburg by expanding activities in Germany’s largest universal seaport. The two shipping companies are among the ten largest shipping companies in the world. In the course of Olaf Scholz’s delegation trip to China , the CEO of both companies unterlined the importance of Hamburg as global hub and gateway to Europe.
COSCO’s president Li Yunpeng had two good news to tell Olaf Scholz, who visited the company’s global headquarters in Beijing in the course of his trip. The shipping company now steers both their container leasing business and its feeder services from its European headquarters in Hamburg. The container leasing business was previously located in the United Kingdom. The feeder line is a completely new business segment of COSCO Container Lines Europe GmbH. According to Li Yunpeng, Hamburg is well-suited for COSCO due to the good intermodal offers to the German and European hinterland.
Lower Rents Than In Other Port Cities
CSCL also plans to expand its activities in Hamburg, Vice President Zhang Guofa told the delegation in Shanghai. According to Guafa, Hamburg is special as rents are low compared with other major international port. Also, the range of residences, and the wide choice of food available are very attractive to CSCL’s employees. However, Guofa made it clear that CSCL is expecting a speedy implementation of the fairway adjustment to ensure Hamburg’s accessibility for large container ships.
COSCO and CSCL are both operating mega ships with up to 19.000 TEU in their China services from and to Hamburg. Both companies are currently negotiating a merger. They also plan to introduce a total of 22 newbuildings with capacities of up to 21,000 TEU by 2018.
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