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 multipurpose 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.