Germany's Ministry of Economics announced on the 7th that it has blocked the acquisition of logistics company Zippel by Chinese state-owned shipping giant China Ocean Shipping Group, or COSCO, citing national security concerns. In a statement, the ministry explained that if the acquisition went through, dependencies would deepen and the resilience of supply chains in Germany and the European Union could be undermined. COSCO had aimed to acquire 80 percent of Zippel's shares. Germany's Federal Cartel Office approved the deal in February, but said national security issues were outside its jurisdiction. European governments are increasingly wary of investments by Chinese state-owned enterprises in logistics and transport infrastructure, amid concerns that such deals could grant access to sensitive supply chain information and create dependencies. COSCO already holds a minority stake in a container terminal at the Port of Hamburg, which the government at the time approved in 2023 despite strong opposition within the coalition.
COSCO SHIPPING Holdings Co LtdGermany blocked COSCO's acquisition of Zippel on national security grounds, thwarting its planned 80% stake purchase.
Zippel's planned sale of 80% to COSCO was blocked by Germany on security grounds, leaving its ownership outcome unclear.
