COSCO Shipping

Piraeus ranked 4th in 2023 – up from 5th in 2022 – among the top 15 container handling ports in Europe, from which a total of 72.5 million TEUs were handled, according to PortEconomics.eu.

It surpassed the port of Valencia, while the ports of Rotterdam, Antwerp, and Hamburg are in the top three.

Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several years to focus on innovation and sustainability as new drivers of growth, the company's executive chairman said.

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said. 

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday. 

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said.

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday.

Piraeus Port Authority (OLP) and Guangzhou port in China, signed on Saturday morning in Piraeus a memorandum of understanding meant to enhance their cooperation.

A spokesperson for Belgian Interior Minister Annelies Verlinden has confirmed media reports that Piraeus, Greece's largest port, has been excluded from the European Ports Alliance due to significant ownership by the Chinese shipping group Cosco.

The Suez Canal crisis has started to cause significant delays in the smooth supply of the Greek market with durable consumer goods imported from Asia, such as refrigerators, televisions, computers and cars.

The European Union's scrutiny of foreign investment suffers from blind spots because some EU members do not carry out screening and those that do have widely different approaches, the European Court of Auditors (ECA) said on Wednesday.

In the early 2010s, Greece, burdened by debt and facing bankruptcy, had to agree to an intensive schedule of privatizing critical infrastructure, especially its ports.

Growth in container traffic at the port of Piraeus has slowed down. The fast pace at which it expanded since Chinese state-owned Cosco Shipping leased two docks in 2009 - before eventually becoming the port's majority shareholder - appears to be a thing of the past.