New record brings Greek Piraeus port closer to largest container port in Mediterranean
The port of Piraeus in Greece has reached a record 5 million TEU (twenty-foot equivalent unit) in its container cargo capacity, Piraeus Port Authority (PPA S.A.) announced.
According to the Authority, a container unloaded from the COSCO SHIPPING CAPRICORN vessel on Monday morning brought the total traffic to the Piraeus port to 5 million TEU, leading Piraeus Port closer to the first place in the Mediterranean and possibly among Europe’s top four ports.
Piraeus is the second largest container port in the Mediterranean after Valencia.
China’s COSCO Shipping acquired a majority stake in PPA S.A. in 2016 after an international tender and continues to change the port’s image. The Chinese company’s subsidiary Piraeus Container Terminal S.A. (PCT) has also been managing the port’s container terminals since 2009, posting remarkable results.