Do the Chinese own the Port of Piraeus?

Do the Chinese own the Port of Piraeus?

Bilateral relations between Athens and Beijing show signs of fraying. State-owned China COSCO Shipping first secured the right to operate parts of Piraeus in 2008. It acquired 51% of the port’s Greek state-owned operator in 2016, then increased its stake to 67% this October.

Who owns Piraeus Port Greece?

COSCO

Why was the Port of Piraeus important?

The Port of Piraeus (PP), lying about 10 kilometers southwest of Athens, Greece, is a strategically important location because of its proximity to the Aegean Sea, the maritime crossroads between Asia and Europe, and is linked by shipping routes to Europe, the Middle East and Africa.

Why was the Port of Piraeus so important to the ancient Greeks?

Located just 7 km (5 miles) south west of Athens, Piraeus is in fact a limestone peninsula offering natural harbours which the Athenians exploited to create what, at its height in the 5th century BCE, would be the most important port and biggest naval base in the Greek world.

Which ports does China own in Europe?

There are three Chinese companies involved in European ports: COSCO, China Merchants Port Holdings Company (CMP) (招商局港口控股), which is the world’s sixth largest terminal operator, and Hutchison Port Holdings Limited (Hutchison) – a private Hong Kong group that is the world’s number two operator.

How much of Greece does China own?

The Chinese company Cosco Shipping now owns 67% of Greece’s Piraeus Port Authority, one of the largest ports in Europe, after Greek lawmakers ratified the sale of a 16% stake in the company on top of the 51% Cosco already held.

How many foreign ports does China own?

At present, China is home to more shipping ports than any other country, including seven of the 10 busiest ports in the world. In addition to its massive accumulation of domestic shipping infrastructure, China also owns over 100 ports in approximately 63 countries.

What is Piraeus known for?

It is the largest in Greece and is the centre of all sea communication between Athens and the Greek islands. Piraeus is also the terminal station for all the main Greek railways and is linked to Athens by electric railway and superhighway.

Who owns ports in Europe?

The great majority of European port authorities are publicly owned, like in much of the rest of the world. Central governments and municipalities are the two main types of ownership. Private ownership is limited and can include industrial companies, transport companies (e.g. terminal operators) or financial holdings.

What happened to Piraeus?

Piraeus was bombed by the Germans in 1941 during World War II. By then the railway to Piraeus had been built, its station near the antique Agora. Indeed,… The modern port has been rebuilt since the bombings of World War II.

Why did Athens build a wall from the city to the port of Piraeus?

The Long Walls were a key element of Athenian military strategy, since they provided the city with a constant link to the sea and thwarted sieges conducted by land alone.