Hamburg, Germany – The Hamburg State Parliament has approved the initial vote necessary to ratify a strategic partnership between the city and Mediterranean Shipping Company (MSC) in the port and logistics company HHLA. This approval, given on July 10, paves the way for the city and MSC to become long-term partners in one of Hamburg’s main container terminal operators, according to sources.
The proposal, passed by the social-democrat majority with a vote of 71 to 34, now awaits a second vote, postponed until September 4 due to the parliamentary summer break. Given the unchanged composition of the Hamburg State Parliament, the second vote is expected to pass, solidifying the agreement.
Currently, the Hamburg State, through an investment vehicle, holds approximately 67% of HHLA’s shares, while MSC has acquired about 27% of HHLA on the open market. The agreement includes a plan to de-list HHLA following a shareholder squeeze-out, with the state selling additional shares to MSC. This will result in a new ownership structure of 50.1% for Hamburg and 49.9% for MSC.
The partnership will see MSC committing to increased container volumes for Hamburg, investments in terminal upgrades, and the creation of additional desk jobs at an expanded German headquarters in Hamburg. Importantly, HHLA’s terminals will continue operating as ‘common user’ facilities, ensuring existing carrier partnerships remain intact.
HHLA’s current partners include Hapag-Lloyd in the Container Terminal Altenwerder (CTA), COSCO Shipping Lines in the Container Terminal Tollerort (CTT), and Grimaldi Group in Unikai. Additionally, Sea-Invest and Salzgitter Mannesmann partner with HHLA in the reefer handling and dry bulk sectors, respectively.
The finalization of this deal is anticipated in early September, marking a significant development in Hamburg’s maritime and logistics industry.
Sources: Alphaliner, MSC
