Piraeus soars in cargo tonnage rankings under Cosco

Before China’s Cosco Shipping arrived in Piraeus, the “Pearl of the Mediterranean” was listed 93rd in the the world’s busiest seaports by cargo tonnage.

It has since climbed to 38th.

Cargoes loaded and unloaded at the port totaled 3.74 million 20-foot equivalent units (TEUs) in 2016, up from 880,000 TEUs in 2010, when Cosco’s subsidiary Piraeus Container Terminal took over the management of piers II and III.

Cosco is expected to help create 125,000 jobs in the region in the near future.

[Xinhua]