Piraeus, Greece (Ports Europe) January 15, 2025 – The Greek government is currently considering the potential impact of the Chinese shipping company COSCO as being linked to the Chinese military by the U.S. government. The listing includes COSCO SHIPPING Corporation Limited (COSCO SHIPPING), COSCO SHIPPING (North America) Inc and COSCO SHIPPING Finance Co., Ltd.
The port is operated by the Piraeus Port Authority, which in turn, is owned by China’s COSCO SHIPPING Ports Limited. The latter has connections with COSCO SHIPPING Lines.
Being on the list of businesses linked to the Chinese military does not include sanctions. However, it is a clear message from Washington that U.S. companies might reconsider working with such companies.
Since 2016, COSCO has operated the port, increasing cargo volumes and investing considerable sums of money. However, growth has stalled with the Houthi attacks on Red Sea shipping, reducing the number of ships using the Suez Canal and, thus, container volumes. There are also local concerns about Chinese control.
Also, Piraeus Port is not part of the European Ports Alliance, a European Union programme to tackle illegal drugs entering Europe via seaports. This is due to security concerns regarding Chinese ownership.
COSCO has denied any military links and said that operations remain normal despite the “list” and that it plans to challenge the move.
Local shippers will be monitoring the situation to see if customers respond in any way.
Ports Europe will continue to report on this issue.
Copyright (C) Ports Europe. All Rights Reserved. 2025.
[email protected]
