A decade after COSCO Shipping Group's pivotal investment rescued Greece's historic Port of Piraeus from the brink of collapse during the European debt crisis, dockworkers once skeptical of the Chinese firm’s management now hail the partnership as a game-changer.
In 2010, the port faced bankruptcy, its aging infrastructure and declining competitiveness emblematic of Greece's broader economic struggles. COSCO's majority stake acquisition in 2016 sparked concerns among employees, who questioned whether a Chinese state-owned enterprise could align with European operational norms. Today, however, workers describe a metamorphosis. \"I wouldn't change my job at Piraeus for anything,\" one longtime dockworker shared, reflecting widespread sentiment.
The port's cargo throughput has surged, positioning it as a top Mediterranean hub and a linchpin in China's Belt and Road Initiative. Employees highlight improved facilities, expanded training programs, and stable employment—a stark contrast to pre-COSCO uncertainties. Analysts note the partnership's symbolic significance in Greece-China relations, demonstrating how cross-border collaborations can revitalize strategic assets while addressing local labor priorities.
