MSC's introduction to the port of Hamburg: the EU consent causes excitement!
MSC's introduction to the port of Hamburg: the EU consent causes excitement!
The EU Commission approved the controversial entry of the Mediterranean Shipping Company (MSC) at Hamburg Hafen- und Logistik AG (HHLA) on October 4, 2024. This decision marks a significant step in a procedure that caused a wide variety of reactions up to this point. The Commission came to the conclusion that the merger will not significantly worsen the competitive conditions and therefore there are no concerns of competition law.
According to the EU Commission, there is enough competitors in the relevant market to ensure safe access to the Northern European ports and the corresponding services. This means that the possibility of monopoly -like control by MSC does not exist - a clear signal for those involved that the transaction has been carried out according to the rules of the competition test.
background of the deal
The Hamburg citizens had already agreed to the deal in early September. According to the information, the city of Hamburg will hold 50.1 percent of the HHLA shares, while MSC takes over 49.9 percent. This follows the strategy goal of the red-green Senate to stabilize the port infrastructure and to secure competitiveness. In return, MSC has already announced that the loading volume at the HHLA terminal is significantly increased from next year.
by 2031, MSC plans to almost double the number of shipped standard containers - a step that benefits both the HHLA and the city of Hamburg. In addition, the shipping company in Hamburg will build a new Germany center and increase the equity of the HHLA by a total of 450 million euros.
Hamburg's Senator for Economic Affairs Melanie Leonhard was pleased with the approval by the EU Commission and the previous approval of the citizens. She described these decisions as two significant milestones for the strategic partnership between the city and the MSC, which should have a positive impact on the future development of the port.
criticism of unions and workers
experts who had their say in hearings described the business degree as a "historical mistake". They speak out against the deal and warn of the possible negative effects on the employees and the entire port industry.
Another element remains the consent of the Ukrainian authorities, since the HHLA also operates a container terminal in Odessa. The economic authority has declared that this consent all legal framework is fulfilled to conclude the deal.
everything goes according to plan, this entry from MSC could act as a decisive strategic step for everyone involved, while at the same time the fears and resistance to the deal are not insignificant. For detailed information on this topic, we refer to the reporting by www.az-online.de .
Kommentare (0)