China's largest terminals company, COSCO SHIPPING Ports Limited (SEHK:1199), is seeking to expand its footprint in Europe with plans to take a stake in one of Hamburg's three container terminals. Cosco and Hamburg port company Hamburger Hafen und Logistik Aktiengesellschaft (XTRA:HHFA) (HHLA) confirmed on June 04, 2021 that talks are underway for Cosco to acquire a minority shareholding in CTT, the Tollerort container terminal company. If a deal happens, it would be Cosco's eighth port investment in Europe. The others include control of Piraeus port in Greece, where it is aiming to hike its shareholding in the Piraeus Port Authority from 51% to 67%, plus interests in Belgium's Antwerp Terminal, the Euromax terminal, and CSP Zeebrugge.

"HHLA expects the participation [of Cosco Shipping Ports] to strengthen the relationship with its Chinese partner as well as to provide sustainable planning security for Container Terminal Tollerort in order to safeguard volume and employment in the Port of Hamburg," HHLA said in a statement. But it added that "no legally binding agreement has yet been reached between the two parties".