Olaf Scholz News

China and Europe face a "slow motion train accident" as a rising tide of protectionism threatens to become a full trade war, the head of a European business lobby group warned on Wednesday, a day after Germany's chancellor conveyed European concerns to Beijing.Jens Eskelund, president of the European Chamber in China, said that while some worries about trade in both countries were legitimate, there was a risk of unproductive decoupling if European and Chinese leaders did not increase…

Berlin is reviewing its decision to allow China's Cosco to take a stake in one of logistics firm HHLA's three terminals at the Hamburg port, a spokesperson for the German economy ministry said on Wednesday.Responding to a question about the reported classification of Tollerort as critical infrastructure, the spokesperson said it was being determined whether and under what conditions Cosco would be allowed to take a stake in the terminal named Tollerort.The German cabinet gave Cosco the go-ahead to take a 24.9% stake in the port in October last year.German Chancellor Olaf Scholz gave the green

German logistics firm HHLA on Thursday called on the German government to uphold its responsibility towards the port of Hamburg and finally approve an agreed investment of China's shipping firm Cosco.HHLA has been waiting for a final go-ahead from the economy ministry for 18 months and now expects to hear back soon, Chief Executive Angela Titzrath said. "We believe we have answered all the questions," she said at a presentation of HHLA's 2022 results. HHLA had implemented all the ministry's requirements for the contract with Cosco.

German container liner Hapag-Lloyd sees great opportunity in India where containerization levels are still low, chief executive Rolf Habben Jansen told reporters on Thursday. Having accompanied German Chancellor Olaf Scholz on a recent visit, he came away with optimism, Habben Jansen said at an earnings press conference. "We are certainly committed to that market...it is going to grow faster than average, and if you want to grow in a market, it is important to have a good position there," he said. (Reuters - Reporting by Vera Eckert, Editing by Friederike Heine)

German logistics firm HHLA and Cosco are close to finalizing an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg's port, HHLA said on Friday."We can confirm that...

The German government has become divided over a deal, agreed last month, which saw Chinese conglomerate Cosco invest in the Port of Hamburg. The deal had been in the works since September 2021 and was championed by the chancellor (and Hamburg’s former mayor), Olaf Scholz.Scholz’s coalition partners have been vocal in criticising the deal. Chief among them is Robert Habeck, Greens member and Scholz’s economics minister, who expressed his fear that Germany was becoming dependent on Chinese business.

The German navy is helping Norway to protect critical maritime infrastructure such as oil rigs, undersea cables, and pipelines, and is ready to do the same off the Danish and Swedish coasts, its head said on Thursday. Bordering Russia in the north, Norway is Europe's biggest producer of natural gas and oil and has an extremely long coast that is hard to protect. It operates an extensive network of pipelines that connect the country with Britain and Europe. NATO has pledged to…

The U.S has "no right" to interfere in Chinese cooperation with Germany, China's foreign ministry said Thursday, after Washington cautioned against Beijing getting a controlling stake in Hamburg's port terminal. U.S. interference is symptomatic of its practice of coercive diplomacy, foreign ministry spokesman Zhao Lijian told reporters at a daily briefing in Beijing. "Pragmatic cooperation between China and Germany is a matter for the two sovereign countries, the United States should not attack it without reason and has no right to meddle and interfere…

German Chancellor Olaf Scholz on Thursday stressed the need for Europe to diversify its relations to ensure it is not dependent on any one nation, a day after he pushed through a decision to let a Chinese firm invest in a terminal at the country's largest port.Businesses must ensure that they have multiple supply chains to obtain their goods and that their investments are not concentrated on just one country, added Scholz in a joint news conference with Greek Prime Minister Kyriakos Mitsotakis in Athens."Those who had not considered this carefully enough for a long time are doing it now in lig

Germany may allow China's Cosco to take a smaller stake than originally planned in a Hamburg port terminal, in what an economy ministry source on Tuesday described as an "emergency solution" to approve the deal but mitigate the impact.Shipping giant Cosco made a bid last year to take a 35% stake in one of logistics firm HHLA's three terminals in Germany's largest port, but the German coalition has been divided over whether to let the deal go ahead.The compromise would see Berlin approving a sale of 24.9% of the terminal to Cosco, several government sources said.

The European Commission warned the German government last spring not to approve an investment by China's Cosco into Hamburg's port, German daily Handelsblatt reported on Friday, citing sources.Shipping giant Cosco last year made a bid to take a 35% stake in one of three terminals in Germany's largest port in the northern city of Hamburg.Germany's ruling coalition is divided over whether to approve the investment, government sources say, even as Beijing urges Berlin not to politicize the bid and the port authority warns this could hurt the economy.According to Handelsblatt…

German utility RWE has signed a deal with Abu Dhabi National Oil Company (ADNOC) to deliver liquefied natural gas to Europe's largest economy by the end of December, RWE announced on Sunday.Though the initial amount to be delivered is relatively small, it's a politically significant deal to shore up supplies of gas from outside of Russia as Chancellor Olaf Scholz seeks to deepen ties with the Gulf and find alternative energy sources.The deal, which includes a memorandum of understanding for multi-year supplies of LNG…

Germany's ruling coalition is divided over whether to let China's Cosco take a stake in a Hamburg port terminal, government sources say, even as Beijing urges Berlin not to politicize the bid and the port authority warns this could hurt the economy.Shipping giant Cosco last year made a bid to take a 35% stake in one of three terminals in Germany's largest port in the northern city of Hamburg.The German government's response is being seen as a gauge of how far it is willing to toughen its stance on China…

Canada is exploring ways to see if there is a business case to export liquefied natural gas (LNG) directly to Europe from its east coast, Prime Minister Justin Trudeau said on Monday.Speaking alongside German Chancellor Olaf Scholz in Montreal, Trudeau said "we will do what we can" to contribute to the global supply of energy by increasing capacities in the short term.Canada will also "explore ways to see if it makes sense to export LNG and if there's a business case for it to export LNG directly to Europe ...

A third gas pipeline between Spain and France would cost at least 3 billion euros ($3 billion) and take years to complete, making it a less attractive option to address Europe's supply worries than new terminals to receive fuel by boat, France's energy transition ministry said.The European Union is bracing for any further fall in gas flows from Russia, which had been the 27-nation bloc's biggest supplier before it invaded its neighbour Ukraine in February and trade was disrupted.German…

The German government made an offer to buy the insolvent MV Werften's Rostock shipyard for its navy, a defense ministry spokesperson said on Friday, in a move to top up capacities for repairing and servicing war ships.Germany, in response to Russia's invasion of Ukraine, has been scrambling to bring its military back in shape after decades of attrition following the Cold War.In a major policy shift, Chancellor Olaf Scholz pledged in February to sharply increase defense spending, including an initial 100 billion euro ($106 billion) fund to fill gaps in weapons and other military equipment.The d

German Chancellor Olaf Scholz said he was confident liquefied natural gas (LNG) could start flowing into the country via the Baltic Sea port of Lubmin within a matter of months, as Germany rushes to phase out Russian energy imports."Our goal is to get as much as possible there by the turn of the year, or a little bit later, so we can get gas quickly from wherever," Scholz said on Tuesday in Berlin after a meeting with the regional government of Mecklenburg-Vorpommern.State premier Manuela Schwesig said the federal economy ministry and local energy ministry were conducting joint audits.

Newbuilding 782, a new 210-m RoRo ferry dubbed Tennor Ocean, was launched June 17, 2022, the first launch since the economic restart of Flensburger Schiffbau-Gesellschaft (FSG).The RoRo ferry was commissioned by IVP Ship Invest. The company is part of the Tennor Group of founder Lars Windhorst, which is also the owner of the shipyard. IVP Ship Invest is in talks with various international interested parties about a possible charter or sale of the ferry.“For me, today’s launch is a sign and symbol of a strong future for FSG.

The German government on Thursday signed agreements for the charters of four floating storage and regasification units (FSRUs), as it works to become less reliant on Russian gas, as FSRUs will enable it to import LNG from other sources.The agreements were signed for the charters of two FSRUs owned by Oslo-listed firm Hoegh LNG, and two owned by Dynagas. Hoegh LNG FSRUs will be operated by RWE, while Uniper has facilitated the charter of two FSRUs managed by Dynagas Ltd.Höegh LNG said that the detailed FSRU contracts with the German Federal Ministry for Economic Affairs and Climate Action…

German Chancellor Olaf Scholz halted the Nord Stream 2 gas pipeline project designed to bring more Russian gas to Germany on Tuesday after Russia formally recognized two breakaway regions in eastern Ukraine.Europe's most divisive energy project was finished in September but has remained idle since then pending certification by Germany and the European Union.The project is designed to double the amount of gas flowing from Russia straight to Germany under the Baltic Sea, bypassing…

Russian President Vladimir Putin reiterated on Tuesday after meeting German Chancellor Olaf Scholz that the Nord Stream 2 gas pipeline, which is still awaiting regulatory approval, is a "purely commercial" project which will strengthen Europe's energy security.The $11-billion pipeline, which has faced stiff opposition from the United States and some European states, was built last September across the Baltic Sea from Russia to Germany, but has been idle pending German and EU regulatory clearance."This is one of Europe's largest infrastructure projects…

Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied natural gas (LNG), Chancellor Olaf Scholz said on Thursday.Speaking after meeting with Czech Prime Minister Petr Fiala, Scholz said many countries faced an even bigger challenge than Germany in reducing reliance on Russian energy imports.Russian gas imports that arrive via pipeline account for more than 90% of gas consumption in the Czech Republic…

Thyssenkrupp's defense division hopes to start building for the German navy from 2024 at a shipyard in Wismar, northern Germany, once owned by insolvent MV Werften, its head said on Friday after it bought the site.Chancellor Olaf Scholz, in a policy shift after decades of attrition of Germany's armed forces, pledged in February after Russia invaded Ukraine to sharply increase defence spending, including an initial 100 billion euro ($106 billion) fund.Thyssenkrupp Chief Executive Martina Merz said last month that decision was "beneficial" to its marine services division (TKMS), which said on Fr