Source: Global Times
[Global Times Special Correspondent in Germany Aoki] "The disputed Hamburg Port terminal transaction is expected to reach a compromise." Germany's " Frankfurter Report " reported on the 25th that there was signs of compromise in the dispute between the German federal government about Chinese companies' investment in the Hamburg Port container terminal. COSCO may be allowed to participate in the dock, but the shareholding ratio is smaller than the original one.
According to Deutsche Voice on the 24th, the German online media "China Table", which focuses on Chinese issues, issued a statement on the same day that the compromise plan that the German federal government is discussing is that COSCO will acquire 24.9% of the shares of the "Fudi" container terminal of Hamburg Port, rather than 35% of the previous plan. According to reports, shareholders only have vetos when holding 25% or more shares. Another 10% equity will be transferred only after a "freezing period", and China needs to prove that it is a reliable partner during the "freezing period".
German media quoted government sources as saying that the plan is an "emergency solution" to prevent "worse things" from happening. On the 25th, discussions between relevant federal government departments on the compromise plan are still underway. However, the plan is one of the possible options Berlin is now considering and no decision has been made yet. Reuters quoted sources as saying that while the German Ministry of Economic Affairs and Foreign Affairs still hope to block the deal completely, it is unlikely to succeed because Prime Minister Scholz has not yet put the issue on the cabinet agenda. If the cabinet still fails to make a decision this week, COSCO's acquisition of Hamburg Port Terminal will automatically be approved. However, Deutsche Welle reported that Jens Spen, vice chairman of the parliamentary caucus, the largest opposition party in Germany, asked the Bundestag to hold a special meeting this week to vote on Chinese capital's investment in Hamburg Port to prevent COSCO's equity acquisition.
At present, it is not clear how Chinese companies will respond to the new situation. According to Deutsche News Agency, the compromise plan should be coordinated with China. According to reports from Hamburg Port and Logistics Corporation (HHLA), which signed a shareholding agreement with COSCO, said that the company is negotiating with the federal government in recent days and has been feeding the news to Chinese companies. There are reports that China has not yet made a formal statement, but there are signs that China can accept compromise.
German TV One 25 reported that the city of Hamburg and the neighboring Schleswig-Holstein state governments support COSCO's acquisition of stake in Hamburg Port Terminal. Schleswig-Holstein Governor Daniel Gentell called on COSCO to participate in it in an interview. "Deutsche Voice" reported that Hamburg Port is an important logistics hub for maritime and continental cargo transportation between China and Europe. The "Fudi" terminal is one of the four container terminals in Hamburg Port and is currently the smallest. COSCO intends to build the "Blessed Land" terminal into its primary transshipment hub in Europe, and Hamburg City also hopes to strengthen the strength of Germany's largest port. In the past few years, Hamburg Port has lost to its larger rivals Port Rotterdam and Port Antwerp Port . "China Platform" said that since 2016, COSCO has held 35% of the shares of the Omai Terminal, the Port of Rotterdam, and the Port of Rotterdam has more container throughput than the combined total of all ports in Germany, and there is no political controversy.
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