China’s COSCO is strengthening its foothold in northern Europe, tabling a bid to take an 80% stake in German stevedore and logistics operator Zippel in Hamburg.
Zippel, known for its multi-purpose cargo handling and barge services in Hamburg’s port ecosystem, gives COSCO enhanced local handling capability and greater flexibility in combined sea-inland transport flows.
COSCO already has a significant presence in Hamburg. Its flagship terminal is the partnership, HHLA/COSCO Container Terminal (CCT) in Altenwerder.. Additionally, COSCO holds stakes in Terminal Hamburg Süd (THS) and has strategic relationships across the city’s port cluster. Diamond Line, COSCO’s intra-European subsidiary, is also headquartered in Hamburg.
