Chinese Cosco modernizes Greek port of Piraeus

Α Decrease font Enlarge font
Chinese Cosco modernizes Greek port of PiraeusThe attraction of foreign direct investments is critical for the recovery of Greece's stricken economy and further promotion of its promising tourist industry

ATHENS – Greek Shipping Minister Panayiotis Kouroublis, whose Radical Left SYRIZA party didn’t want foreign investors, is jumping on the bandwagon praising them, lauding the Chinese company Cosco which took over the port of Piraeus with modernizing it.

Prime Minister Alexis Tsipras is chasing more foreign businesses, especially those from China, as he reneged on promises to reverse privatizations he said were selling off state assets at fire sale prices, speeding the pace on orders of international creditors.

Kouroublis, under fire last September over an oil slick when an unchecked tanker spilled content off Piraeus and onto beaches, heaped kudos on Cosco in an interview with the Chinese state news agency Xinhua.

That came as the company was beginning new projects to upgrade Greece’s largest harbor where work had been stagnant for years and as international cruise ship companies are looking to bring in more vessels packed with tourists and were looking for better facilities.

Work has started to upgrade the harbor ahead of the arrival of the new floating dock Piraeus III, at the end of February, in a project China Cosco Shipping, launched last June, Greek national news agency ANA-MPA reported.

Since China Cosco Shipping acquired a majority stake in Piraeus Port Authority (OLP) and took over the management in 2016 after winning an international tender, the image of the harbor has been changing rapidly and for the better despite protests from Greek workers who didn’t want it changing hands.

The new works include dredging the harbor to create up to 20 meters of operating depth, providing new electricity and water supply networks, and installing four mooring buoys for anchoring ships.

The new floating repair dock – 240 meters (780.7 feet) long, 45 meters (147.63 feet) wide, 22,000 tons lifting capacity and full crane equipment – will be able to service ships with a capacity of 80,000 tons.

“The projects that have started at Perama and will proceed with the lifting of two wrecks off Pier II by the Shipping Ministry, so that the infrastructure for the installation of PPA’s large floating dock can be created, show how smoothly the cooperation of the Greek government with the investors is progressing,” Kouroublis said.

“They also show that the Shipping Ministry’s policy will continue to facilitate any development activity stemming from Cosco’s contractual obligations regarding bureaucracy and other obstacles,” the Greek official told Xinhua.

“At the same time, we support workers’ rights by welcoming the latest agreement between employees and the OLP for the signing of a Collective Labor Agreement,” the minister said, ironically as the government is trying to limit the rights of Greek workers and bar strikes.

Tsipras’ partner, Betty Baziana, also in an interview with a left-wing newspaper said that private workers have no merit because they are working for personal profit and not the common good.

Shipping officials have said that ships will no longer need to carry out repair and maintenance operations in other Mediterranean shipyards, while this move is also expected to create new jobs in the Greek market.

Speaking to Xinhua, George Koumpenas, Vice President of Operations at Celestyal Cruises, said the works will help significantly for his industry and Greek shipbuilders, with Greek shipping companies dominating the world’s waves.

“In recent years, due to a lack of suitable dock sizes, companies have been obliged to dock our vessels to neighboring countries such as Malta, Turkey and Croatia. This has resulted in the loss of significant revenues for the national economy,” he explained.

“The installation and operation of a large floating dock will help maintain and develop the shipbuilding industry in the wider Piraeus and Perama areas, as an important criterion for the choice of the port for seafaring companies is the ability to make repairs,” Koumpenas told the news agency.

Read more here.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons Copyright: Dkoukoul License: CC-BY-SA



  1. 22/03 02:24

    Greek Archaeologists appalled by deaths and monuments destruction in Afrin

  2. 22/03 02:21

    Study: New opportunities arise in Greece's healthcare sector

  3. 22/03 02:18

    WiFi4EU: Registration opens for free wireless internet hotspots in public spaces

  4. 22/03 02:14

    Greek port of Igoumenitsa wins EU’s sustainable mobility award

  5. 22/03 01:52

    Greece's Amphipolis archaeological study in dire need of funding

  6. 22/03 00:24

    Eni CEO: East Mediterranean gas could supply whole of Europe

  7. 22/03 00:19

    Another Greek Bank implements ambitious digital transformation plan

  8. 22/03 00:06

    Media: Next Assassin’s Creed video game set in ancient Greece

  9. 21/03 23:44

    Deutsche Telekom acquires remaining 5% stake in Greece's OTE

  10. 21/03 22:52

    SNF signs memorandum of collaboration with Greek State (video)

  11. 21/03 21:20

    Benaki Museum and Aria Hotels ally for Leigh Fermor House

  12. 21/03 19:18

    Report: The Death of Cash in Travel

  13. 21/03 19:09

    Athens Airport Innovation Challenge: THE DIGITAL GATE II winners

  14. 21/03 18:57

    Good Friday Summit in Crete's ancient Lappa focuses on cultural values

  15. 21/03 18:48

    Sharing Economy: In Europe, we made a "Bang" but it wasn't "Big"

  16. 21/03 18:30

    Greek Cypriot from United Kingdom voted best teacher in the world

  17. 21/03 15:39

    Mycenaean findings: Gigantic 1250 BC building project in northern Copais

  18. 21/03 14:24

    Report: New book highlights Greek Diaspora’s benefaction work

  19. 21/03 14:17

    Greek Art Theater Karolos Koun in Athens honors the 1821 revolution

  20. 21/03 12:12

    Greek state arrears to private sector down to €2.443 billion in January

  21. 21/03 01:16

    Land registry offices in go-slow mode across Greece

  22. 21/03 01:11

    Central banker: Greece needs steep increase in private investments

  23. 21/03 01:06

    Greek privatization fund: Better offer for rolling stock maintenance provider

  24. 21/03 00:56

    Tasty Greek oregano leads to unique herb business

  25. 21/03 00:52

    Hermes Airports launches a new magazine in Larnaka and Paphos

  26. 21/03 00:41

    Earth Hour: Switching off the lights for 60 minutes on March 24

  27. 21/03 00:34

    Report: Prince Harry and Meghan Markle in ‘Greek island stopover’

  28. 21/03 00:23

    Greek opposition leader talks investments with Emir of Qatar

  29. 21/03 00:16

    Exhibition ‘Fred Boissonnas in Egypt’ at Athens Benaki Museum

  30. 21/03 00:14

    TUI accelerates expansion of its cruise fleet in Germany and UK

  31. 21/03 00:05

    Herta Muller will read from her book in Athens on March 21 and 22

  32. 20/03 23:56

    Diaspora: “Macedonia is Greece” rally takes place in New York (video)

  33. 20/03 23:40

    Greek Weather: Ski in the northern mountains, swim in the southern beaches

  34. 20/03 22:51

    Niarchos Foundation to sign deal with Greek State over health services

  35. 20/03 22:35

    E-auctions for foreclosed properties by Greek state to commence on April 27

  36. 20/03 16:27

    Report: Morsel Spork, the ultimate camping utensil (video)

  37. 20/03 14:50

    Report: Laws around the globe that can send tourists to jail - no mooning in Greece

  38. 20/03 14:19

    Spring Equinox at 18:15 on Tuesday marks official start of season in Greece

  39. 20/03 12:20

    German tourism: Bookings for Greece, Turkey and Egypt rise as Spain retreats

  40. 20/03 11:00

    SightRunnin' Greece: Discover the city with your running shoes

  41. 20/03 02:31

    Cyprus residents' trips abroad rise by 1.7% in February this year

  42. 20/03 02:27

    Study: Wages in Greece decrease by 19.1% since 2010

  43. 20/03 02:20

    Melbourne’s historic Orthodox Church re-opens after disastrous fire

  44. 20/03 02:17

    Greek merchant shipping fleet up in numbers during January

  45. 20/03 02:05

    Hotels: Ikos Resorts expand to Spain

  46. 20/03 02:00

    US Ambassador visits and lauds ancient site at Dodoni in Epirus, Greece

  47. 20/03 01:56

    Tourist arrivals up by 23.4% in Cyprus during February

  48. 20/03 01:51

    Holocaust survivor Moshe Aelion leads Remembrance March in Thessaloniki

  49. 20/03 01:45

    "Travels in Greece" show on display at Benaki Museum in Athens

  50. 20/03 01:38

    Greek PM: Tourism will be a driving force for the economy

  51. 19/03 23:57

    Visit Greece: Things to do with kids in Athens and the islands

  52. 19/03 23:51

    Dimera Group to focus on logistics, food and hotels in Greece

  53. 19/03 23:48

    Lufthansa launches new #SayYesToTheWorld campaign in India

  54. 19/03 23:20

    Russian tourism: Greece's ranks 4th among top destinations in May

  55. 19/03 22:53

    Central Athens metro station to close on Tuesday for Afrin rally

  56. 19/03 20:40

    Transfer of Thessaloniki port stake to be concluded by early next week

  57. 19/03 18:15

    Greek PM visits Tinos and meets island’s mayor

  58. 19/03 16:10

    Piraeus top port in EU: 32 million ferry boat passengers in Greece for 2015

  59. 19/03 14:04

    New York Rotary Club celebrates Greek Independence Day (video)

  60. 19/03 12:54

    Interview: Silicon Valley Robotics CEO visits Delphi in Greece

  61. 17/03 23:45

    Trikala in Thessaly becomes first Greek city with 5G technology

  62. 17/03 23:39

    Media: Prince Charles and Camilla Parker to visit Greece in May

  63. 17/03 23:29

    E-tickets to museums and archaeological sites soon in Greece

  64. 17/03 22:34

    Fraport Greece: Renovations and upgrades at all 14 regional airports concluded by 2021

  65. 17/03 20:22

    US envoy notes Ioannina's potential for sports, religious and cultural tourism

  66. 17/03 18:11

    Report: Why Greek island hopping by ferry is fun and economical

  67. 17/03 16:05

    Tax cuts and reforms dominate Greek main opposition’s agenda (video)

  68. 17/03 14:59

    New air carrier Cyprus Airways to resume Athens-Larnaca route

  69. 17/03 12:51

    Pyatt: US and Greece will enhance bilateral investment cooperation

  70. 17/03 10:41

    Greek Agriculture Minister briefs MEPs on EU’s post-2020 farming policy

  71. 16/03 18:05

    101 projects of 180 million euros funded on the Aegean islands

  72. 16/03 17:58

    Talented students from Kos to represent Greece in “Dance World Cup” final

  73. 16/03 17:54

    Greek PM to inaugurate Cycladic Islands-mainland power grid link

  74. 16/03 17:47

    Ancient Greek Epics by Homer help war veterans cope with stress

  75. 16/03 17:43

    Traffic restrictions in Athens city center for Half Marathon on Sunday

  76. 16/03 17:35

    Travel guide: Explore the beauties of mainland Greece

  77. 16/03 14:17

    Temperatures to reach 28 degrees Celsius in Greece over weekend

  78. 16/03 12:30

    Flight from Vienna launches tourist season for Greek island of Rhodes

  79. 16/03 10:11

    Flavors of Greece's South Aegean at New York event

  80. 16/03 00:41

    Study analysis: Airbnb’s Millennials’ strategy at a turning point

  81. 16/03 00:29

    Five Greek nominees for top EU Environmental Award Natura 2000

  82. 16/03 00:24

    Painter Alexis Akrithakis’ stories at the Municipality of Athens Arts Center

  83. 16/03 00:17

    Report: Airbnb fights against Expedia and over hotel market

  84. 16/03 00:13

    Greek Tourism Minister meets Russian counterpart in Moscow

  85. 16/03 00:04

    Map: The most expensive countries in the world to live in

  86. 16/03 00:01

    EgyptAir resumes Athens-Benghazi service as of April 1, 2018

  87. 15/03 23:54

    Alltours warns of high prices in Spanish island of Mallorca

  88. 15/03 23:50

    Greek Archaeologists Association to hold conference on their profession o

  89. 15/03 23:41

    Tourism 2018: Greece and Turkey sell-out in German market could spark bed shortage

  90. 15/03 23:35

    Crete Governor and Turkish Consul General discuss cooperation in tourism

  91. 15/03 23:07

    Hellenic Post to present ancient Athens 'Myrtis' girl stamp series

  92. 15/03 22:29

    Survey: Millennials take over family travel from Baby Boomers

  93. 15/03 22:13

    Nine Greek startups take part in SXSW Conference in Austin, Texas

  94. 15/03 21:41

    Two new awards for Greek carrier Sky Express by Athens Airport

  95. 15/03 20:17

    Athens Acropolis Museum: Free entrance on Greek Independence Day March 25th

  96. 15/03 18:12

    86% of Ryanair flights arrive on time during February 2018

  97. 15/03 14:53

    Digital Travel Show of Marketing Greece enters second season

  98. 15/03 12:42

    1st Lesvos Euphoria International Festival between September 7-9th

  99. 15/03 01:24

    Coral Travel / Starway Awards: Mitsis Ramira Best Hotel in the World for 2017

  100. 15/03 00:57

    OECD: Greece among top-10 global powers in international tourist arrivals