ECONOMY

Piraeus named the fastest growing port in the world

piraeus-named-the-fastest-growing-port-in-the-world

Piraeus was the fastest growing port in the world in the period from 2009 to 2013, according to data collected by the International Association of Ports and Harbors (IAPH). The period coincides with the presence of Chinese giant Cosco at Greece’s main port, where it continues to operate.

Container traffic grew by a spectacular 476 percent within those four years, taking Piraeus to the top spot among 50 ports around the world in terms of growth. From the 665,000 containers the port handled in 2009, by 2013 the figure had risen to 3.16 million. There was also a considerable increase in 2014 – a year not included in the survey – when the number of containers handled soared to 3.74 million – i.e. annual growth of 19 percent.

Still, that huge growth rate has subsided this year as Piraeus has reached its maximum allowed handling capacity and more investment is required for that capacity to rise.