Shanghai teams up with Piraeus to boost container traffic

Piraeus Port (OLP), operator of Greece's biggest port and majority-owned by China's Cosco Shipping, has agreed to team up with the operator of Shanghai port, the world's largest container port, to promote container shipping traffic.

OLP, Cosco and Shanghai International Port Group (SIPG) have agreed to cooperate in project planning, staff training and information exchange, OLP said in a statement on Monday.

It noted the agreement would create synergies to boost trade and create new business opportunities.

Shanghai is China's main gateway port to the world and had a throughput of 36.5 million TEUs (20-foot equivalent container units) in 2015.

"The agreement means that huge quantities of goods will be transported to Piraeus from Shanghai," Deputy Economy Minister Stergios Pitsiorlas said on the sidelines of the event.

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