Port of Piraeus managed by COSCO (jan 1, 2008 – 12h 33min, may 20, 2025 y)

Description:

In 2008, the Chinese state-owned company COSCO (China Ocean Shipping Company) acquired the operating license of Pier II for a period of 30 years (later expanded to 35 years), in concert with the permission to built another pier, Pier III. China’s involvement in the Port of Piraeus has cost $532 million, but COSCO has succeeded in transforming its part of the port into a successful business, contrasting considerably with the Greek–led pier, which is plagued by inefficiency, controlled by labor unions and doesn’t handle much traffic.

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