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Cosco

Greece Approves Chinese Conglomerate Cosco's Plan for Luxury Hotels in Piraeus

The Greek government gave the green light on Thursday to the Chinese conglomerate Cosco to convert three buildings at the Piraeus port into luxury hotels. The Greek Culture Ministry's Central Council for Modern Monuments unanimously approved the Piraeus Port Authority's...

Geostrategic Powerplay Hinders Massive Chinese Investment in Greece

The decision recently taken by Greece's Central Archaeological Council (KAS) to declare a large part of Piraeus a site of archaeological interest is putting up barriers on a 600-million-euro investment by China's Cosco shipping giant. The Chinese government has shown...

Greece's Port of Piraeus Records Stunning 147% Increase in Profits for 2018

The Piraeus Port Authority (OLP) announced on Friday that the company's net profit for 2018 was 147 percent higher than what it had earned in 2017. The Authority noted in a statement that its profits before tax amounted €42.3 million...

Cosco's Investment Plan for Piraeus Under Threat

The Piraeus Port Authority (PPA) will make a last-ditch attempt on March 10 to convince the Greek government to unblock the 580-million-euro ($650 million-dollar) investment program by China's Cosco Shipping consortium. A government commission had nixed the Port Authority management's investment...

Port of Piraeus Hosts Its Largest Ship Ever (video)

The largest container ship which has ever docked in Piraeus arrived in Greece's largest port on Monday. The behemoth belongs to the Chinese conglomerate COSCO. The COSCO Shipping Line's "Nebula" was delivered to its owners in October of 2018. It can carry more...

Chinese Purchased €258 Mln of Greek Residential Real Estate in 2017

Mainland Chinese purchased at least €258 million (U.S. $300 million) of Greek residential real estate in 2017, according to a report by Juwai, a Chinese international real estate company. The company estimates that in 2018 investment could be even higher...

China's Cosco Reports US$13.6m Profit from Greece's Piraeus Terminal

Chinese giant Cosco reported profits for the first half of 2018 in excess of US$13 million from Greece's Piraeus Terminal, where the group has a controlling stake. Due to the appreciation of the euro, profit recorded by Piraeus Terminal from...

Top 4 Direct Foreign Investments in Greece for 2018

With the end of the third bailout program in August, foreign investments in Greece will continue stronger for the next years as the economic outlook appears more promising than in the crisis years. In this light, foreign giants continue to...

China Complains over Picketing at Piraeus Port

Picketing of a Chinese-run cargo terminal at Piraeus this week, has sparked diplomatic tensions between Athens and Beijing. Greek media reports on Friday claimed China's embassy in Athens complained to the government about an incident that took place on Thursday....

Greece's Port of Piraeus Ranked 7th Largest in Europe

Piraeus has been ranked 7th biggest among Europe's 20 largest ports in 2017, according to new study by a leading industry journal. According to Port Economics, the total traffic of containers at Piraeus reached above 4,057 20-feet equivalent units (TEUs), rising...