Monday, July 15 2024

Cosco ownership excludes Piraeus from European Ports Alliance

 cosco piraeus

A spokesperson for Belgian Interior Minister Annelies Verlinden has confirmed media reports that Piraeus, Greece’s largest port, has been excluded from the European Ports Alliance due to significant ownership by the Chinese shipping group Cosco.

HDN Newsroom

The European Ports Alliance, established to combat drug trafficking, was inaugurated in Antwerp by the European Commission in collaboration with the Belgian Presidency last month, with Verlinden presiding over the launch.

According to an official document obtained by Politico news website, “Ports owned and [majority] controlled by non-EU member states have been excluded.”

Cosco Shipping owns two-thirds of the Piraeus Port Authority.

Analysts say that while Piraeus is not typically identified as a primary entry point for drugs into Europe, the decision to exclude it from the initiative has sparked skepticism over the EU’s capacity to ensure security at critical infrastructure under foreign ownership.