Shipping

Prime Minister Alexis Tsipras and Foreign Minister Yorgos Katrougalos are in China for the Second Belt and Road Forum for International Cooperation, based on the ancient Silk Road, linking East and Southeast Asia with East Africa, West Asia, and southern Europe.

Greece's biggest port is taking measures to address the problem of pollution from ships and industrial activities in the area, Piraeus Port Authority (OLP) has said.

In the next few days - if not on Tuesday - Cosco is expected to submit to the Port Planning and Development Commission a memorandum with its remarks on the watchdog's original opinion.

After a lengthy meeting that went on until midnight on Tuesday, the Central Archaeological Council (KAS) has decided to obstruct the Cosco-owned Piraeus Port Authority's (OLP) 600-million-euro master plan by characterizing a large part of Piraeus as an area of archaeological interest that must be protected.

The main opposition on Wednesday decried a ruling by Greece's Central Archaeological Council (KAS) which limited the area on which China's Cosco can invest in Piraeus as "outrageous," and attributed it to ruling SYRIZA's "ideological obsessions."

The state mechanism is again blocking several key foreign investments, which according to independent observers such as the Foundation for Economic and Industrial Research (IOBE) add up to more than 10 billion euros over the medium term.

The state mechanism is again blocking several key foreign investments, which according to independent observers such as the Foundation for Economic and Industrial Research (IOBE) add up to more than 10 billion euros over the medium term.

Cosco's 580-million-euro investment program for Piraeus Port Authority (OLP) looks set to reach an impasse, if expectations that the OLP master plan will be rejected by the state following Tuesday's discussion at the Port Planning and Development Commission prove correct.

Officials from more than 300 foreign investment funds, banks, Greek shipping companies and legal consultancies are meeting in Athens on Tuesday to discuss the prospects of investment cooperation in oceangoing shipping in the context of the 19th Marine Money Greek Forum at the Athens Hilton Hotel.

Roughly one in two Greek shipping companies (56 percent) would consider relocating their administrative bases abroad, according to the findings of an Ernst & Young study titled "Repositioning Greece as a Global Maritime Capital."