EuropePorts and Logistics

Cosco’s bid for Piraeus accepted

Photo of Sam Chambers Sam ChambersFebruary 18, 2016
2 Less than a minute

As expected Cosco’s bid to take majority control of Greece’s top port was approved yesterday. The Hellenic Republic Asset Development Fund green lighted the Chinese conglomerate’s improved bid to take 67% of Piraeus Port Authority (PPA) for EUR368.5m ($410.6m)

Cosco first invested in Piraeus seven years ago and has plans to make the Greek port a hub for its Mediterranean activities.

The move to privatise the port has sparked numerous strikes from dockworkers. Thessaloniki, the country’s second largest port, is also slated for privatisation.

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Photo of Sam Chambers Sam ChambersFebruary 18, 2016
2 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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