Cosco

How things have changed in 15 years! In 2008, a Chinese state company, Cosco, bought the port of Piraeus, outbidding a Hong Kong-based multinational. No Western firm showed an interest in Greece's biggest port.

Increases in prices for the provision of services to port users are being applied by the Piraeus Container Terminal (Cosco) resulting in reactions. The increases are attributed by Cosco executives to the rise in energy costs and inflation, while it is pointed out that there have been no increases since 2018.

Cosco: Αντέχει ο Πειραιάς την κρίση – Γιατί χρειάζονται νέες επενδύσεις

Prime Minister Kyriakos Mitsotakis on Tuesday lauded the investment of Chinese company Cosco as an "example of mutually beneficial cooperation."

H Cosco ζητά τη μεταβίβαση του 16% των μετοχών του ΟΛΠ – Τελεσίγραφο στην κυβέρνηση

Cosco, the owner of Piraeus Port Authority (OLP), achieved a positive result in the volume of commercial activity at Greece's main port over the first quarter of the year despite the coronavirus pandemic. As the Chinese group has observed that container handling is the best activity for resisting the effects of the recession, it is accelerating its investments in Piraeus port.

The effects of the coronavirus pandemic are being felt at the port of Piraeus, with Cosco announcing the first quarterly decline in container handling after several years.

Greece plans to sell majority stakes in four ports as part of a privatization plan agreed with its lenders after the country exited the bailouts in 2018, a document from the state privatization agency (TAIPED) showed on Tuesday.

Data from Greece's railway regulator, RAS, show that besides the three companies already providing railway services, there are four others preparing to enter the market.

Piraeus Port Authority (OLP) achieved an increase in both its turnover, by 12.3 percent, and net profits, by 27 percent, on a yearly basis in 2019, mainly thanks to growth in container handling at the second and third container terminals operated by Cosco subsidiary PCT. There was also a notable improvement in revenues from ship-repairs and cruise tourism.