Bright future ahead for Piraeus Port

Located about 10 kilometers southwest of Athens, Greece, Piraeus Port is a vital gateway connecting Europe, the Middle East and Africa.

Designed by architect Hippodamus of Miletus in the 5th century BC, Piraeus has long been one of the most prosperous ports in Greece and Europe. Historically, Chinese silk was transported by the Scythians via sea to Piraeus during its peak, before being sold throughout Greece.

However, the global financial crisis over a decade ago plunged the port into its "darkest hour". Shadowed by pay cuts and unemployment, the port suffered from strikes, blockades and sabotage. Equipment was left unmaintained, container yards fell into chaos and trucks jammed the port entrance for up to five kilometers. Shipowners abandoned the port, and clients were almost entirely lost.

The turning point came in 2016 when China COSCO Shipping Corp officially took over the port's operations. At the time, the annual container throughput of the port was approximately 680,000 twenty-foot equivalent units, ranking 93rd globally with outdated facilities and limited capacity.

Today, it has become one of the busiest ports in the Mediterranean, with annual throughput exceeding 5.6 million TEUs, ranking as high as 25th globally.

Upon taking over, COSCO Shipping issued a letter to employees, promising that the Chinese management team would not take a single blade of grass or stone from the port. They pledged that the port's past, present and future belong to the Greek people, with no more than seven Chinese nationals on the management team, leaving all other positions to Greek employees.

The management delivered on their promises. They worked alongside local employees to expand the international market, increase transit cargo and take the lead in repairing aging facilities.

To improve working conditions, the company provided free lunches and allowed employees to manage the canteen. Embracing a shared "family" culture similar to both Chinese and Greek traditions, they invited workers to new year parties and awarded scholarships to employees' children, transforming initial doubts into trust and a powerful synergy for development.

"They are not here to steal our jobs; instead, they have created more employment opportunities," said Tassos, the company's commercial manager who has worked at the port since he was 16. "In less than half a year, Piraeus Port began to achieve consecutive monthly profits. They did what we had wanted to do for years but couldn't."

Nikolaos, manager of the claims department, quoted a Greek proverb, "From the soil of wisdom grow three green shoots: good thoughts, good words, good actions." He said that COSCO Shipping perfectly combined Eastern wisdom with Greek culture, respecting and safeguarding the locals' millennia-old attachment to the port with advanced concepts, effective communication and solid actions.

Piraeus Port has now become the fourth-largest container port, the second-largest cruise homeport and the largest ferry port in Europe, as well as an important roll-on/roll-off automobile hub and ship repair center in the Eastern Mediterranean.

"These 10 years mark the decade in which the port of Piraeus moved from being a corner of the Mediterranean to a global hub," said Han Chao, chairman of the port operator Piraeus Port Authority SA.

The development path of the port is also quietly transforming. Stepping into the office building of the container terminal, one can see large screens displaying vessel dynamics, operational progress and equipment status in real time.

According to Han, the port has built a digital monitoring platform covering the entire port area and introduced 5G and artificial intelligence technologies, driving its organization to evolve from "manual planning" to "intelligent coordination".

In terms of energy, photovoltaic systems have begun supplying power to parts of the port. Shore power facilities are also being planned to allow docked ships to cut emissions, further increasing the port's share of green energy.

In recent years, the port's revenue and profit have continued to grow, reversing a long-term trend of losses. COSCO Shipping has invested over 10 billion yuan ($1.47 billion) locally, creating thousands of direct jobs and generating tens of thousands of indirect employment opportunities.

"It has changed not only the port itself, but also the relationship between the city and its people," said Yannis Moralis, mayor of Piraeus.

As port revenues inject funds into the local economy, surrounding businesses have prospered. Once quiet streets are now bustling with cafes, shops and logistics companies. For locals, the port is no longer just a "distant dock", but a part of their daily lives.

According to the recently released financial report of the Piraeus Port Authority, the company's total revenue in 2025 reached approximately 251 million euros ($292 million), a year-on-year increase of 8.6 percent; operating profit stood at 132 million euros, up 2.2 percent year-on-year.

Savvas Sanozidis, secretary of the board of directors of the Piraeus Port Authority, said the transmission and integration of COSCO Shipping's corporate values have effectively strengthened supervision over management, promoting transparency, prudence and a high sense of responsibility in all aspects of work, providing a strong guarantee for the company's long-term sustainable development.

Stefanos Gkikas, deputy minister of maritime affairs and insular policy of Greece, stated that the fruitful cooperation between COSCO Shipping and the Piraeus Port Authority over the past decade has significantly enhanced the port's competitiveness and further consolidated Greece's position in the international shipping sector.

Looking ahead to the next decade, the development blueprint for Piraeus Port is clearly defined.

"The future port will be smarter and greener," Han added. The port plans to extend its industry chain to logistics, warehousing and comprehensive services, building a global logistics node with greater reach.

Meanwhile, social responsibility remains a priority. Public welfare projects and cultural exchanges continue to advance, making the port not just an economic hub, but a connection point for emotion and culture.

According to Han, the construction of the COSCO Shipping Piraeus Port park project was officially launched in April. Once completed, it will become a modern center integrating sports, leisure and social activities. It will not only benefit local residents, but also improve the infrastructure of the cruise terminal area and strengthen transport links with the city of Piraeus, providing a better experience for international tourists.

Over the past decade, Piraeus Port has achieved leapfrog development, serving as a vivid footnote to China-Greece cooperation. Today, amid the surging tides, this gateway to the Mediterranean is embarking on its next decade of intelligent, green and open growth.

renqi@chinadaily.com.cn