Hapag-Lloyd is investing in the JadeWeserPort deep-water port in Wilhelmshaven just days after Cosco acquired a stake in a rival container port in Hamburg. The company is taking over 30% of the container terminal and 50% of the shares of the rail terminal at JadeWeserPort.
Hapag-Lloyd took over the shares from Maersk’s APM Terminals, but it is not known how much the Hamburg-based liner paid. The remaining 70% is to remain with the Bremen terminal operator, Eurogate.
Subject to approval by the antitrust authorities, contract closing is expected within a few months.
JadeWeserPort is located at the German Bight in Wilhelmshaven, on the North Sea coast of Germany. Hamburg and Wilhelmshaven are competitors in container handling and so far, Hapag-Lloyd has mainly handled containers in Hamburg.
Hapag-Lloyd spokesperson said the company will not speculate about any possible impacts for Hamburg or Wilhelmshaven.
