Greek port regains shine under BRI cooperation

ATHENS－When Greece was trapped in a severe debt crisis and close to bankruptcy over a decade ago, Piraeus was a decaying port on the brink of collapse.

However, Piraeus has expanded, upgraded and regained its shine in recent years, after China Ocean Shipping Company, also known as COSCO, began managing the port's container terminals in the autumn of 2009.

Officials, observers and residents see Piraeus as a successful example of China-Greece cooperation in the context of the Belt and Road Initiative, with data proving this.

In 2010, container handling in Piraeus totaled 880,000 twenty-foot equivalent units, or TEUs. In 2020, it reached 5.43 million TEUs, despite the pandemic disruption.

With its strong foundation, the port can stay resilient in the face of unprecedented turmoil caused by the pandemic, said Tassos Vamvakidis, commercial manager of Piraeus Container Terminal SA, the Chinese group's Piraeus subsidiary, in an interview.

As sectors such as shipping, transport and supply chain took a hit worldwide, Piraeus managed to weather the coronavirus storm with strict compliance of safety rules set by Greek authorities.

Though the port saw a roughly 3-percent reduction last year in terms of containers compared to 2019, the lost ground has been recovered.

"Overall, we think we managed well. This has been appreciated by our clients. We have not stopped even one day," said Vamvakidis, adding that everybody here feels proud of this achievement.

Vamvakidis, 64, has been working at the port since he was 16 and witnessed the fruitful cooperation between Greece and China.

The Chinese investment has significantly changed Piraeus' image. The company, which has managed the port's container terminals since 2009, currently boasts advanced equipment, infrastructure and technology.

Furthermore, it has offered the local community more than 3,000 direct jobs and even more indirect jobs, invested millions of euros in the port and paid millions for taxes, duties and social contributions.

New pier needed

Piraeus Container Terminal now needs a new pier－Pier IV, said Vamvakidis, referring to future plans.

Once another pier is added, the annual capacity of Piraeus port will surpass 10 million TEUs, and the port will move up in ranking from its current fourth place in Europe.

Vamvakidis strongly believes in the BRI vision and Piraeus' role in it. As Piraeus has become the largest container port in the Mediterranean, he said expanding cooperation will further inject new vitality into trade and logistics.

Xinhua