MSC’s acquisition of stake in Hamburg Port approved

GENEVA : Mediterranean Shipping Company, MSC’s acquisition of stake in Hamburg Port approved

The acquisition still requires competition approval from the European Commission, which stands as the final hurdle before the deal is fully ratified.

The proposal passed with 105 votes in favour and 33 against, despite substantial opposition from several political groups and local dockworker unions.

Among the strongest opponents of MSC’s entrance into Hamburg are local dockworker unions. Ver.di representative Ms. Sandra Goldschmidt criticised the move, calling it “a black day for Hamburg.”

She expressed concerns that the deal would strengthen MSC’s monopoly in global shipping, and criticised the company’s record on employee and environmental rights. Goldschmidt also noted that the city should have explored alternative strategies to reverse the port’s decline rather than assisting the world’s largest shipping firm.

Nevertheless, HHLA secured several important commitments from MSC and the City of Hamburg, including a €450 million equity capital injection into the company and a further €775 million investment in its container terminals and intermodal network between 2025 and 2028. The deal also guarantees that HHLA will continue as a common-user operator, maintaining neutrality and independence, particularly for its intermodal subsidiary Metrans, while ensuring equal treatment for all customers.

In a bid to protect jobs, the agreement includes a commitment that no redundancies will occur for at least five years. Additionally, MSC will relocate its German headquarters to Hamburg and guarantee a minimum throughput of 1 million twenty-foot equivalent units (TEU) annually by 2031.