Cosco, Piraeus Port and Shanghai Port sign MOU

Cosco, Piraeus Port Authority and Shanghai International Port Group (SIPG) on Monday joined their forces by signing to significant memorandums of cooperation of global importance with the aim to establish Piraeus port as a hub of the transport corridors One Belt One Road (OBOR) linking Asia with Europe.

Shanghai International Port Group, which manages 25.7 pct of China’s international trading volume, handling approximately 35 million containers a year with 2,700 ship approaches per month, has signed separate memorandums of cooperation with Cosco and Piraeus Port Authority.

The first agreement concerns the cooperation between the Piraeus port and the port of Shanghai, covers the transfer and increase of containers from China to the EU, as well as the transfer of know-how and personnel training in Greece. The MOU was signed by Athanasios Liagos, managing director and member of the Piraeus Port Authority Board, and Chen Xuyuan, president of the Shanghai International Port Group.

The second agreement between Cosco and Shanghai International Port Group concerns international co-operation issues and was signed by China Cosco Shipping Corporation Limited Chairman Hu Lirong and SIPG President Chen Xuyuan.

The SIPG Group is a central naval and commercial hub of China, as well as financing the development of Chinese and foreign ports in addition to container traffic, and has a strong position in the development of China’s cruise and real estate investment.

The Minister of Shipping and Island Policy Panagiotis Kouroumblis, speaking to the ANA, stressed that the strategic goal was to make Piraeus port one of the largest shipping centers in the world. “In our plan, which includes 13 objectives, ranging from education, port industry, cruise, seafaring, coastal shipping, island policy, shipbuilding and other activities, the port is at the heart of this effort, “the minister said.