Port of Piraeus
That Chinese expansion in Greece would build Chinese dominance of one of the most strategic shipping gateways to Southern Europe and the Balkans.
Cosco, a global shipping giant owned by the Chinese government, is spending more than $388 million to modernize its dock to manage 3.7 million containers in the next year, which would make Pireaus (Greece) one of the world’s 10 largest ports.
The cargo volume here is three times the level it was two years ago. Cosco leased half of the port of Piraeus and quickly converted a business that had gone down as a Greek state-run enterprise into a business full of productivity. the Chinese-run side of the port has lured new clients, high-volume traffic, lots of jobs, and bigger ships. The other half of the port is still directed by Greece, and goes behind Cosco’s in part because they continue with too beneficial labor rules and relatively high wages.
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