BUSINESS

Piraeus key to Cosco Shipping Ports Ltd growth

NIKOS ROUSSANOGLOU

TAGS: Shipping, Privatizations

Cosco Shipping Ports Limited expects its growth to come from ports outside of China, such as that of Piraeus, in 2017, offsetting the losses it stands to incur from its domestic ports, according to Morgan Stanley.

Piraeus posted a container handling growth rate of 15.7 percent on an annual basis in the first 11 months of 2016, as it managed 3.2 million containers against 2.77 million in the same period in 2015.

This year Piraeus has overtaken Suez as the biggest Cosco installation outside China in terms of containers handled, as subsidiary Suez Canal Container Terminal SAE handled 2.3 million containers in the January-November 2016 period.

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