Business
Germany ‘rolling over for enemies of free world’ after Red China buys up stake in Hamburg Port
ByJorg Luyken IN HAMBURG
5 November 2022 • 3:01pm
Scholtz Jinping
On the south bank of Hamburg’s sprawling harbour, one of the largest cargo ships on the planet, a 400-metre behemoth with “Cosco Shipping” emblazoned on the side, is being unloaded on a rain-swept quay.A dozen cranes lift containers down from the Chinese vessel before smaller straddle carriers whisk them away down Germany’s Elbe river.
This intricate operation is a vivid reminder of the deep trade links that connect Germany to the Far East. The Tollerort Terminal, one of four at Hamburg’s giant port, is almost exclusively used by a single shipping company – China’s state-owned Cosco.But the city of Hamburg’s decision to go one step further and sell a minority stake in the terminal to the Chinese firm has led to uproar.
Critics say it shows that Germany is failing to learn the lessons of its disastrous reliance on Russian gas and is still seeking to chum up to autocrats in order to secure preferential treatment for its companies.
“What still has to happen for Germany to arrive in reality and not roll over in front of the enemies of the free world?” asked Marie-Agnes Strack-Zimmermann, a senior Free Democrat politician.
Olaf Scholz, the chancellor, was in China on Friday to talk to leader Xi Jinping and, according to reports, he did not bring up Cosco.
A comment piece on Saturday by public broadcaster ARD called the trip to Beijing, which has been heavily criticised, “a continuation of Scholz’ lonely course, in which he has proven in the past that… despite all the warnings from advisors, ministries and security authorities, he personally opened the gate to the port of Hamburg to China.”
On Saturday, Mr Scholz defended his trip to China as “worth it” due to an agreement to oppose the use of nuclear weapons in the war in Ukraine.Emmanuel Macron, the French president, has also warned Berlin that “we have made strategic errors in the past with the sale of infrastructure to China”.
Media reports suggest that Mr Scholz, who was mayor of Hamburg for seven years, pushed the deal through against the objections of most of his Cabinet.But he had to accept a compromise by which Cosco’s share fell from 35 per cent to 24.9 per cent.At the offices of Hamburger Hafen und Logistik (HHLA), the company selling part of its business to Cosco, the deal is justified on the grounds that all of Hamburg’s competitors have already done the same thing.
“Hamburg is stuck in an extremely hard competition with the other European harbours,” says Hans-Jorg Heims an HHLA spokesman.
Cosco already holds stakes in Europe’s other two major ports, Rotterdam and Antwerp, leading Hamburg to fear that Cosco would take its business elsewhere.
“They could have said: ‘why should we land our freight at Hamburg when we have part-ownership of harbours in Rotterdam and Antwerp?’” Mr Heims says.
For a city whose fortunes rest on the success of its harbour, that was a risk that no one was willing to take.
“The harbour is the heart of Hamburg’s economy, that was always the case and it will remain the case in the future,” says Norbert Aust, head of the city’s chamber of commerce, who has welcomed the deal.
A third of trade done through Hamburg’s harbour is now with China, while more than a third of that is handled by Cosco.
From Mr Aust’s point of view, the “much bigger danger” than Beijing using the terminal to exert political influence is a situation in which Hamburg loses business to Rotterdam or the Greek port of Piraeus, which lies completely in Coscos’s hands.
“That would be a heavy blow for the port of Hamburg,” he says.
Besides, the city has been careful not to hand the Chinese firm any meaningful control, Mr Aust says.
“No part of the port will be sold, nor any part of the logistics company, we are talking about the operator of a single terminal who has leased the ground from the city government,” he states.But China watchers say that the investment is another piece in the puzzle of Beijing’s long-term strategy of building market dominance in Europe.
“Beijing’s geo-political goal is one of influence,” says Jacob Gunter, a researcher at the Mercator Institute for China Studies in Berlin.
“We saw this come out during the discussions about the port, where Cosco suggested it would take its business elsewhere if the deal wasn’t approved,” says Mr Gunther.And the comparison to Russian gas is an apt one, he continues.
“During the pandemic and now with the Ukraine war, we’ve all learned a lesson about how inflation is connected with energy and logistics. Both ports and pipelines are critical infrastructures that affect all other things.”
The HHLA and analysts are in agreement though that a solution to the company’s grip on Europe’s ports needs to be found at home.Mr Gunter says that the remedy to Europe’s harbours competing for Cosco’s affections lies in setting common standards across the EU to “prevent a race to the bottom”.
Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.
The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.
Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.
The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).
Business
A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem
The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.
Establishment of the New Advisory Committee
To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:
• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.
• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.
• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.
New Trustee Appointment
Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.
A Vision for the Future
“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.
Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.
The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.
Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.
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