By JI HAISHENG in Beijing and LIU KUN in Wuhan |
China Daily |
This aerial photo taken on July 10, 2023 shows OOCL PIRAEUS, one of the largest container vessels in the world, about to dock at Piraeus Port in Piraeus, Greece. [Photo/Xinhua]
In 2008, as the global financial crisis unfolded, Greece suffered some of the worst fallout. Piraeus Port, the largest seaport in the country, reported a loss of 13 million euros ($15 million), with outdated facilities, scarce vessel calls and frequent dockworker strikes dragging its operations into a deep crisis.
During this challenging period, when investors worldwide deemed Greece too risky, a Chinese company stepped forward. China COSCO Shipping secured a concession to operate two of Piraeus' container terminals. Eight years later, in 2016, COSCO acquired a majority stake in the port, officially taking over its management and operations.
