China's Growing Grip on Piraeus: What It Means for Greece and Global Trade

Editor's note: Since the mid-2010s, COSCO Shipping — the Chinese state-owned shipping and logistics giant — has acquired and consolidated majority control over Piraeus Port, raising its stake to 67%. Under COSCO's (see China COSCO Shipping Places 87 Multi-Vessel Order At Shipbuilding Giant) management, Piraeus has evolved into a major hub connecting Asia, Africa and Europe, becoming a strategic node in global supply chains under China's Belt and Road Initiative. For Greece, the transformation has been economically significant: container traffic has risen, revenues and profits at the Piraeus Port Authority (PPA) have reportedly reached record levels, local businesses and restaurants are doing well, thousands of Greeks have found employment, and the port plays a central role in maritime trade, logistics and transshipment — boosting Greece's profile in international trade flows. This was nine years ago. The port is booming today...

But the Chinese dominance of Piraeus has also become a geopolitical flashpoint. In 2025, the Chinese embassy in Athens firmly rejected remarks by the U.S. ambassador to Greece that hinted Piraeus "could be for sale," asserting that COSCO's stake is not negotiable. Meanwhile, Western concerns over the influence of Chinese-owned ports have triggered scrutiny and— in some cases — regulatory or diplomatic pressure. As global trade patterns shift — with disruptions such as Red Sea tensions and shifting supply-chain routes — Piraeus's strategic importance is growing further: recent statistics show a rebound and even growth in container throughput, underlining its resilience and value as a gateway between continents.

In short, Piraeus under COSCO is both a success story of foreign investment boosting Greece's maritime infrastructure — and a prism through which larger questions about economic influence, sovereignty, and global trade power play out.

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