Bright future ahead for Piraeus Port in Hellenic Shipping News 21/05/2026 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container throughput of the port was approximately 680,000 twenty-foot equivalent units, ranking 93rd globally with outdated facilities and limited capacity.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 share