An Athens court on 4 December passed down a 10-year prison sentence to Greek shipowner Victor Restis after finding him guilty of making a false statement, but he was released as the term was suspended, however a travel ban has been imposed on him.

Greece's Council of State has bowed to the objection of two major Greek construction companies and dealt another blow to Cosco Shipping's plan to further develop the port of Piraeus.

Shipping contribution to Greece’s coffers in the first nine months of the year have shown a significant recovery according to latest Bank of Greece (BoG) data.

China and Greece intend to use the shipping industry to expand relations between the two with China's Transport Minister, Li Xiaopeng saying his country made the geo-strategic choice to strengthen bilateral economic and trade cooperation with Greece.

The Piraeus Port Authority (PPA) reported record profits for the first half of the year, and though the upward trend continues the Cosco Shipping-controlled port company's ceo warned official foot-dragging is holding back development plans.

The Eastern Mediterranean’s largest port, Piraeus, was the star of the recent China Global Television Network (CGTN) report ‘Where the maritime silk road meets land’.

Greece is still by some way the largest shipowning country, but the gap is closing as China’s fleet expansion continues at a rapid rate as it overtakes Japan for the number two position.

On 20 August Greece completed a three-year eurozone bailout programme designed to help it cope with the fallout from its debt crisis and in the process, according to some "saved the Euro".

Cosco Shipping Ports (CSP) has set its sights on making Greece’s largest port Piraeus the number one container handling port in the Mediterranean within 18 months. Presently it is third.

Greece has its third Shipping and Island Policy Minister since the left wing government came to power in January 2015. Prime Minister, Alexis Tsipras, August 28, promoted alternate Defense Minister Fotis Kouvelis, to the helm of the Shipping Ministry, replacing Panagiotis Kouroumplis.

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