Beijing - Cosco Shipping is to acquire a majority of 80% stake of Hamburg-based forwarding and intermodal transport company Konrad Zippel Spediteur, further expanding its business network in Europe.

Goldlead Supply Chain Development (Europe), a wholly-owned company registered in the Netherlands by Cosco Shipping Group, will lead the acquisition.

With the proposed transaction, Cosco Shipping will significantly expand its inland logistics service network at Germany’s largest container port Hamburg.

Founded in 1876, Konrad Zippel is Germany’s oldest freight forwarding company. It primarily provides container multimodal transport services between Germany’s major ports and eastern regions.

This transaction is in line with Cosco Shipping’s integration strategy, as the company seeks to strengthen its presence across the entire logistics chain, covering ocean shipping, port terminals, and inland distribution throughout Europe.

Cosco Shipping expects to enhance its direct inland multimodal transport capabilities by acquiring Konrad Zippel, building upon its existing 24.99% stake in the Tollerort container terminal in the port of Hamburg, and reduce its reliance on third-party operators for hinterland transport in Europe.