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Greece-China maritime partnership grows

Photo: PPA Piraeus port aerial view
Greek-Chinese cooperation in shipping infrastructure is continuing to gather pace, with more Greek-owned ships being built in China and Chinese-backed Piraeus port growing into a top Med container port.

Piraeus Port Authority owner, China’s Cosco Shipping Corporation Limited, is one of the largest shipping enterprises in the world owning over 1,300 ships with a combined shipping capacity of 111m deadweight tons. 

The company’s global shipping routes cover more than 1,500 ports in 160 countries and regions, with an annual cargo volume of 1.3 billion tons. 

 “We have made the port of Piraeus a leading container port in Europe. With joint efforts of the Cosco Shipping management team, the company has made a significant contribution to the local economy, culture, society and finance of Greece,” said Yu Zenggang, executive chairman of Cosco Shipping (Piraeus) Ports Ltd. 

George Xiradakis, President of Hellenic Shipping Finance Association, has noted many Greek shipowners build their ships in China, and during the last decade, half of the Greek owned new ships were built in China.

Currently here are over 120 ships being built in China for some 33 Greek shipping companies according to the latest Naftiliaki analysis of the newbuilding orderbook for Greek interests.