Thursday, September 28, 2023

MSC commits to one million TEU annual throughput after announcing HHLA acquisition

Hamburg and MSC concluded a binding preliminary agreement establishing a strategic partnership with HHLA AG, Where MSC will retain a 49.9% participation in the management of the port operator.

As part of the agreement, MSC will expand its cargo handling at HHLA terminals in Hamburg from 2025. From 2031, it will handle a minimum volume of 1,000,000 TEU in Hamburg.

HHLA has become a European logistics company in recent years. In addition to the terminals at the Port of Hamburg, its activities also include container facilities in Odessa, Tallinn and Trieste, as well as a network of land connections and rail transport routes of Metrans, a subsidiary of HHLA.

Soren Toft, executive director of MSC Mediterranean Shipping Company, He explained that “the city of Hamburg and MSC have had a close relationship for decades. With the current agreement, we are expanding this long-standing partnership and bringing together Hamburg and the German market more closely than ever before with our global shipping network and the many intermodal connections throughout Europe. With this partnership, we extend MSC’s reach and at the same time open up greater commercial potential for Hamburg and Germany. As a family business, we have always maintained close relationships with our employees, customers and partners. “We have a long-term view of this partnership and see it as an exciting opportunity to expand our long-standing relationship with Hamburg and Germany.”

on his part the mayor of Hamburg, Peter Tschentscher, He assured that “the strategic partnership of the city of Hamburg with one of the leading shipping companies in the world, MSC, is a milestone in the future development of our port. “This shows MSC’s strong commitment to the Port of Hamburg, corresponds to the Senate’s strategic objective of the port policy and will give the entire maritime economy the development it needs in difficult times.”

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news