The German federal cabinet barred Cosco on 7 October 2026 from buying an 80% stake in Zippel under the Foreign Trade and Payments Act to protect critical supply chains.
Zippel employs 350 people and runs over 3,000 container trains each year from Hamburg and Bremerhaven to eastern Germany, supporting Bundeswehr and NATO logistics.
The Federal Office for the Protection of the Constitution raised security concerns in late April 2026 after the Federal Cartel Office cleared the deal on competition grounds in February 2026.
Cosco is the fourth-largest shipping line globally and holds terminal stakes in Greece, Spain, and Belgium, alongside a 24.99% share in Hamburg's Tollerort terminal acquired in 2023.
The German federal cabinet decided on Wednesday, 7 October 2026, to prohibit the sale of an 80% stake in Hamburg logistics company Zippel to Chinese state-owned shipping line Cosco. A spokesperson for the Federal Ministry for Economic Affairs announced the veto following the cabinet session, citing national security concerns. The ministry determined that permitting the acquisition would deepen foreign dependencies and compromise the resilience of supply chains across Germany and the European Union. Berlin conducts foreign investment reviews under the Foreign Trade and Payments Act and its corresponding ordinances, screening whether an acquisition poses a threat to public order or security. The government examines an average of approximately 300 cross-border transactions each year, and across all screenings to date, federal authorities have issued a total of eight formal acquisition prohibitions.
Zippel operates freight transport across rail, maritime, and road networks, employing approximately 350 staff members. The company moves sea containers and general cargo from the North Sea ports of Hamburg and Bremerhaven to commercial centers in eastern Germany and broader European destinations. On its dedicated rail network, the carrier runs more than 3,000 container trains per year directly from maritime terminals into the hinterland. Reports from Handelsblatt indicate that Zippel controls terminal handling shares between 35% and 90% at inland hubs in Berlin, Schkopau in Saxony-Anhalt, and Elsterwerda in Brandenburg. According to defense ministry assessments, these eastern freight corridors provide critical logistical support for the Bundeswehr and NATO operations during emergency deployments.
Cosco sought to acquire an 80% controlling interest after the business partner of Zippel managing director Axel Plaß decided to exit the firm. Plaß planned to retain the remaining 20% equity stake and continue leading daily operations. In February 2026, the Federal Cartel Office approved the planned acquisition on competition grounds without evaluating security implications. Objections emerged in late April 2026, when the Federal Office for the Protection of the Constitution warned against expanding Chinese control over transport infrastructure. Intelligence officials noted that transport assets influenced by Beijing might become restricted or unavailable during international crises, including potential conflict scenarios involving Taiwan. Plaß acknowledged the federal cabinet's intervention following the announcement.
“We would have wished for a different result and still consider our entrepreneurial decision to be correct.”
Plaß confirmed that day-to-day business continues unchanged for customers and the firm's 350 employees. Although the Hamburg economic authority stated its approval last week, the formal prohibition notice will now be issued by the federal ministry.
The veto represents the federal government's second intervention into Cosco's expansion within German transport infrastructure. In 2022, the federal cabinet debated Cosco's attempt to purchase a 35% stake in the Tollerort container terminal at the Port of Hamburg. Following prolonged negotiations under Chancellor Olaf Scholz, the cabinet restricted that acquisition below 25%, and the final agreement for a 24.99% stake was signed with port operator HHLA in June 2023. Cosco ranks fourth globally in maritime transport volume, operating ahead of German container line Hapag-Lloyd and maintaining European terminal stakes in Greece, Spain, and Belgium. Through its terminal holdings at the Port of Piraeus, the Chinese state enterprise channels exports to eastern Europe, expanding Beijing's regional logistics footprint.
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The German federal cabinet prohibited Chinese state-owned carrier Cosco from acquiring an 80% stake in Hamburg-based freight operator Zippel, citing supply chain resilience and national security concerns.
AI text based on reports by Handelsblatt, Norddeutscher Rundfunk, ZEIT ONLINE and other publishers. Published .