China Cosco Shipping’s controversial take over of Greece’s largest port has suffered another setback. Greek politicians finally greenlighted the sale of Piraeus port a fortnight ago to the Chinese conglomerate. Moves to privatise the port had sparked a series of strikes by dockworkers.
However, it is striking rail workers in recent days that have now forced China Cosco Shipping to reroute many boxes from Piraeus to the port of Koper in Slovenia. China Cosco Shipping is using feeder ships to move boxes from the Greek port to Slovenia to counter the rolling strikes.
China Cosco Shipping has stated it wants to use Piraeus as a distribution hub, beefing up rail freight links to Central Europe. It has earmarked more than $500m to develop the port.
Thessaloniki, Greece’s second largest port, is also slated for privatisation.