The Assessment of the Piraeus Container Terminal Privatization Initiative

The geographical advantage of the Piraeus container terminal allows it to enjoy its unique position in containerized trade and global trade. Nonetheless, recently, the administration of the Piraeus port by a Chinese corporation named The China Ocean Shipping Company (COSCO) Pacific has captured the interest of the public and the attention of the media. Via this privatization, drastic changes are anticipated to occur in terms of infrastructure development, employment and logistics. Therefore, these will induce the creation of new trade routes between Greece and Europe, thus, offering a springboard of advantages to the surrounding regions. This paper examines major components that would be affected by above concession. The results suggest that the privatization of the port may lead to the new technology infrastructure improvements, as well as more efficient container capacity within the Piraeus Container Terminal.