12. Transactions with Respect to Related Parties

There are various contracts between the Free and Hanseatic City of Hamburg and/or the Hamburg Port Authority and companies in the HHLA Group for the lease of land and quay walls in the Port of Hamburg and in the Speicherstadt historical warehouse district. Moreover, the HHLA Group lets office space to other enterprises and public institutions affiliated with the Free and Hanseatic City of Hamburg. Further information about these business relationships can be found in the consolidated financial statements as of 31 December 2014.

Receivables from related parties declined as a result of cash clearing with HGV.

Liabilities to related parties decreased in the third quarter of 2015 due to the repayment of a current liability in the amount of € 65.0 million owed by the Real Estate subgroup to HGV. This loan accrued interest of 4.5 %.