Companies of China

The digital transformation of Greek ports - i.e. the adoption of procedures that will reduce the number of documents required for activities ranging from unloading ships to customs processing - has divided Piraeus deeply.

Piraeus Port Authority (OLP) achieved an increase in both its turnover, by 12.3 percent, and net profits, by 27 percent, on a yearly basis in 2019, mainly thanks to growth in container handling at the second and third container terminals operated by Cosco subsidiary PCT. There was also a notable improvement in revenues from ship-repairs and cruise tourism.

US President John F. Kennedy once observed that "When written in Chinese, the word 'crisis' is composed of two characters. One represents danger and the other represents opportunity."

US group Varde Partners has been added to the list of suitors for the 80 percent stake in Ethniki Insurance, Greece's biggest insurer.
According to sources, Varde Partners is among the bidders short-listed for the second stage of the tender, concerning binding offers.

Piraeus is expected to be among the top four ports in Europe for 2019 in terms of container traffic, and the top in the Mediterranean, as Cosco-owned Piraeus Port Authority saw the unloading of the 5 millionth container to pass through the port this year, aptly from a Cosco ship.

The Hellenic Red Cross and Chinese shipping giant Cosco on Monday announced the launch of the "Children Included" program to support 2,180 children from poor families at risk of social exclusion.

The announcement was made just days after Chinese President Xi Jinping's visit to Greece.

Chinese shipping giant Cosco is about to start a dialogue with the Greek government on the terms and conditions that will allow for its investment master plan for Piraeus port to expand from the currently approved 600 million to its full amount of 900 million euros with the construction of a new, fourth container terminal, according to recent talks between the Greek and Chinese state leaders.

Greek Prime Minister Kyriakos Mitsotakis and Chinese President Xi Jinping seen visiting the premises of Cosco Shipping in Piraeus on Monday. China and Greece agreed on Monday to push ahead with a 600 million euros investment by Cosco into Greece's largest port as part of efforts to boost its role as a hub in rapidly growing trade between Asia and Europe.

China and Greece agreed on Monday to push ahead with a 600 million euros investment by Cosco Shipping into Greece's largest port, Piraeus, as part of efforts to boost its role as a hub in rapidly growing trade between Asia and Europe.

Prime Minister Kyriakos Mitsotakis on Monday welcomed Chinese President Xi Jinping to Greece, expressing hope that the official visit will lead to wider cooperation between the two countries.

"My recent visit to Shanghai and yours today is inaugurating a new era in our relations, he told Xi. "I hope this visit is a milestone in the further deepening of our bilateral relations.