Greek Port of Piraeus Welcomes the Arrival of Mega Vessel Container

MEGA ARRIVALGreek Port of Piraeus Welcomes the Arrival of Mega Vessel Container

The Port of Piraeus on Monday received the OOCL PIRAEUS, a newly built container vessel belonging to Orient Overseas Container Line Europe (OOCL) and one of the largest in the world. On its maiden voyage, which lasted 84 days and connected Asia with Europe, the vessel arrived at the Piraeus Container Terminal S.A. (PCT), a subsidiary of COSCO Shipping.

Measuring 399.9 meters in length and 61.3 meters in molded width, the OOCL PIRAEUS has a container capacity of 24,188 TEUs, making it one of the largest container vessels globally, as stated in a press release by PCT. The vessel’s arrival signifies the increasing importance of the Port of Piraeus as a critical link in the new trade route connecting the Far East to Europe and Africa.

During a special welcome ceremony, Zhang Anming, the managing director of PCT, highlighted the Port of Piraeus’s significance, stating that it has become a top container port in the Mediterranean and one of the four major sea trade hubs in Europe. Since assuming management of Piraeus’ terminals II and III in 2010, PCT has successfully transformed Piraeus into a key hub for international freight transport in the Mediterranean and Europe.

“We are proud that one of the largest container transport ships in the world carries the name of the largest Greek port, Piraeus, and will carry its glorious name to the world,” Piraeus Container Terminal (PCT) CEO Zhang Anming said.

Zhang Anming also highlighted the mutual admiration between the Greek and Chinese people for their ancient cultures, despite the geographical distance between them. “With the Maritime Silk Road, especially after the founding of PCT at the Port of Piraeus, another passage of friendship opened between the Chinese and the Greek people. The Container Terminal is a new gate for Greece to the world, with the name of Piraeus,” he noted.

Zhang further emphasized the substantial investments made in Piraeus in recent years, amounting to 600 million euros. These investments have resulted in a significant increase in freight capacity, with PCT’s capacity rising from 1.6 million to 6.2 million TEUs and the overall capacity of the Port of Piraeus reaching 7.2 million TEUs. “This boom has placed the Piraeus Container Terminal at the top of Mediterranean ports and among the 4 most important maritime trade hubs in Europe,” he added.

*OOCL PIRAEUS is considered as one of the largest container vessels in the world. | Credit: Xinhua*

Looking ahead, PCT plans to continue investing in the years 2023 and 2024, with an additional 43 million euros earmarked for further improvements and expansion. Additionally, the Piraeus Port Authority has a pending investment of nearly 20 million euros, awaiting approval from the relevant authorities. These investments demonstrate the commitment to enhancing the capabilities and infrastructure of the Port of Piraeus, solidifying its status as a major player in international trade and maritime connectivity.

The Port of Piraeus

China’s COSCO has gradually gained control of the largest port in Greece. Due to the country’s debt crisis and pressure from the Troika (the European Commission, the European Central Bank, and the International Monetary Fund), the Greek government has sold off the majority of its important ports and airports to foreign companies since 2011.

In 2016, Athens entered into an agreement with COSCO, granting the Chinese company a two-thirds majority stake in the Port of Piraeus. However, the expansion plans for the port faced obstacles when Greece’s Central Archaeological Council designated a significant portion of Piraeus as an archaeological site of importance. This designation delayed the progress of the project.

Recently, the Greek Shipping Ministry finally approved the investment plan, which outlines the project’s terms and conditions. The plan includes provisions for special spatial planning, environmental protection measures, and a balanced integration with the surrounding urban areas of Piraeus, Drapetsona, Keratsini, Perama, and Salamina. The approval paves the way for a 600-million-euro investment in the expansion of the port.

With COSCO’s increasing presence and investments, the Port of Piraeus has witnessed significant growth and development. The Chinese company’s involvement has transformed the port into a major transportation and logistics hub in the Mediterranean, facilitating trade and connectivity between Europe and Asia.