Mediterranean Shipping Company’s (MSC) plans to acquire a stake in Hamburg port have encountered another obstacle. Local politicians from the Left Party have intervened, postponing a final decision on the deal until after a public hearing. This delay may push the closing of the transaction past the end of June, as originally anticipated.
Dockworkers in Hamburg have been vocal in their opposition to MSC’s involvement, while many of the city’s business leaders expressed disapproval when the news first surfaced last year. MSC aims to acquire a 49.9% stake in Hamburger Hafen und Logistik Aktiengesellschaft (HHLA), the city’s top port operator.
Despite the delay, MSC remains committed to the deal. The company intends to increase Hamburg’s annual container throughput by 1 million TEU (Twenty-foot Equivalent Unit) within the next seven years. Additionally, they plan to establish a new German headquarters in Hafencity and relocate their cruise division’s home port to Hamburg, potentially doubling their workforce in the city.
Source: Splash247