Hamburg parliament approves MSC stake in controversial port deal. (picture alliance/dpa | Christian Charisius)
The Hamburg parliament on Wednesday approved the controversial entry of the world's largest shipping company MSC into the Hamburg port logistics company HHLA.
The decision was supported by 72 out of 105 lawmakers, but the deal still requires approval from the European Commission before it can be implemented.
The agreement aims to stabilize HHLA's container handling operations and secure the future of the port, which is Germany's largest and one of the most crucial in northern Europe.
Originally scheduled for the final parliamentary session before the summer break, the decision was delayed due to opposition resistance.
Trade union Verdi, along with dock workers, has been vocally opposed to the deal and has staged multiple protests.
Under the deal, the city of Hamburg and Geneva-based Mediterranean Shipping Company (MSC) would run HHLA as a joint venture, with the city holding a majority stake of 50.1%. The city currently owns around 70% of HHLA.
MSC plans to increase its cargo volume at the HHLA terminals from next year onwards and almost double it to one million containers per year by 2031. It also plans to establish a regional office in Hamburg.
Concerns have been raised by Verdi about potential job losses at HHLA and other port-related companies, as well as MSC's substantial influence.
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