Mediterranean Shipping Co (MSC), the world’s largest container carrier, has completed the acquisition of a stake in Hamburger Hafen und Logistik Aktiengesellschaft (HHLA), the main operator of Hamburg’s port terminals. The deal provides for MSC to control 49.9% of the shares, while 50.1% will remain in the hands of the City of Hamburg.
The company has committed to increasing the throughput capacity of HHLA’s terminals to 1 million TEU annually by 2031, as well as to invest €450 million in infrastructure development together with the City of Hamburg. In addition, MSC plans to open a new German headquarters in HafenCity, where around 700 jobs will be created.
This deal, previously approved by the Antimonopoly Committee of Ukraine, will significantly change the balance of container shipping in Northern Europe. HHLA, in addition to Hamburg, operates the Odessa Container Terminal, which before the war was the largest in Ukraine with a market share of up to 40%.