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Piraeus Port Faces Urgent Call for Modernization Amidst Heavy Passenger Traffic
Piraeus Port, Greece’s primary maritime gateway and one of Europe’s busiest passenger ports, is facing increased pressure for significant upgrades. Handling approximately 20 million travelers annually and a daily influx of vehicles and passengers, the port requires substantial improvements to its facilities and services. The Greek government has appealed to COSCO Shipping, the Chinese multinational corporation managing the port, to expedite modernization efforts and enhance the overall experience for passengers and the local community.
Port Infrastructure Struggles to Meet Demand
Serving as the principal port of Athens, Piraeus is a crucial hub for accessing numerous popular Greek islands, including Santorini, Mykonos, and Crete. Currently, despite featuring 12 ferry departure gates and a considerable expanse requiring an hour to traverse on foot, port capacity is strained. Government officials have described the current situation as “intolerable,” particularly during peak seasons.
Minister Urges Swift Investment from COSCO Shipping
Greek Maritime Minister Vasilis Kikilias recently underscored the pressing need for COSCO Shipping to invest in critical port infrastructure “without delay.” During discussions with Fang Qiu, the Chinese Ambassador to Greece, Kikilias emphasized the urgency of these improvements.
“It is essential that the Chinese side accelerates the implementation of much-needed investments,” Kikilias stated, according to reports. He added that these upgrades are achievable rapidly and at minimal cost, promising a considerable positive impact for both travelers and the local Piraeus community.
Key Areas Targeted for Enhancement
The infrastructure identified as requiring immediate attention includes:
- Water supply systems
- Wi-Fi connectivity
- Enhanced security protocols
- Improved passenger information systems
- Construction of additional passenger terminals and shelters
Ministry sources highlighted the severity of the congestion, stating, “At the peak of the summer travel season, the sheer volume of vehicles and passengers utilizing the port daily creates an unsustainable situation.”
COSCO’s Financial Success Contrasted with Passenger Facility Deficiencies
Reports indicate that since 2016, when COSCO Shipping acquired a majority stake in the Piraeus Port Authority (PPA), the entity responsible for port operations, progress in upgrading passenger-facing aspects of the port has been limited. COSCO Shipping further increased its ownership to 67% by 2021. Under their stewardship, Piraeus has evolved into a pivotal transshipment center in the Mediterranean region, primarily focused on cargo operations.
Port Authority Announces Record Revenues Amidst Upgrade Demands
On Monday, March 31st, the Chinese shipping conglomerate announced unprecedented financial results for the previous year. PPA disclosed in a press release that total revenue reached €230.9 million (£176 million), marking a 5% increase compared to 2023.
These figures represent a historic high for the company, signifying four consecutive years of enhanced financial performance.
Geopolitical Concerns Surround Foreign Control of Key Infrastructure
Despite financial successes, concerns persist among critics regarding foreign control over vital infrastructure. These anxieties center on potential geopolitical ramifications and vulnerabilities.
Across the Atlantic, officials in the United States have voiced apprehension regarding COSCO’s control over Piraeus port, reflecting broader unease about Chinese investments in strategic infrastructure across Europe.
US Warns of Potential Security Risks
Washington has cautioned about the possibility of Beijing leveraging state-controlled enterprises to expand its geopolitical influence, potentially jeopardizing the security interests of NATO and the European Union. In January, the US Department of Defense added COSCO Shipping to a blacklist due to alleged connections with the Chinese military.