Since China COSCO Shipping Corp officially took over its operations a decade ago, Piraeus Port in Greece has transformed from an aging facility into a highly coordinated global hub, achieving remarkable growth in capacity, revenue and technological advancement.

In 2016, the annual container throughput of the port was approximately 680,000 TEUs (twenty-foot equivalent units), ranking 93rd globally with outdated facilities and limited capacity. Today, it has become one of the busiest ports in the Mediterranean, with annual throughput exceeding 5.6 million TEUs, ranking as high as 25th globally.

Over the past decade, the transformation of the port's "hard power" has been the most intuitive. Terminals have been continuously extended, deep-water channels dredged, automated equipment gradually put into use, and bridge cranes and yard systems constantly upgraded. The once scattered and inefficient operational scenes have gradually transformed into a highly coordinated modern operating system.

Piraeus Port has now become the fourth-largest container port, the second-largest cruise homeport, and the largest ferry port in Europe, as well as an important roll-on/roll-off automobile hub and ship repair center in the Eastern Mediterranean.

"These 10 years mark the decade in which the port of Piraeus moved from a corner of the Mediterranean to a global hub," said Han Chao, chairman of the port operator Piraeus Port Authority SA.

In recent years, the port's revenue and profit have continued to grow, reversing a long-term trend of losses. COSCO Shipping has invested over 10 billion yuan ($1.47 billion) locally, creating thousands of direct jobs and generating tens of thousands of indirect employment opportunities.

"It has changed not only the port itself, but also the relationship between the city and its people," said Yannis Moralis, mayor of Piraeus.

According to the recently released financial report of Piraeus Port Authority, the company's total revenue in 2025 reached approximately 251 million euros ($295.5 million), a year-on-year increase of 8.6 percent; operating profit stood at 132 million euros, up 2.2 percent year-on-year.

Savvas Sanozidis, secretary of the board of directors of Piraeus Port Authority, said the transmission and integration of COSCO Shipping's corporate values have effectively strengthened supervision over management, promoting transparency, prudence and a high sense of responsibility in all aspects of work, providing a strong guarantee for the company's long-term sustainable development.

Stefanos Gkikas, deputy minister of maritime affairs and insular policy of Greece, stated that the fruitful cooperation between COSCO Shipping and Piraeus Port Authority over the past decade has significantly enhanced the port's competitiveness and further consolidated Greece's position in the international shipping sector.

The development path of the port is also quietly transforming. Stepping into the office building of the container terminal, one can see large screens displaying vessel dynamics, operational progress, and equipment status in real time.

According to Han, the port has built a digital monitoring platform covering the entire port area and introduced 5G and artificial intelligence technologies, driving the production organization method to evolve from "manual planning" to "intelligent coordination".

Looking ahead to the next decade, the development blueprint for Piraeus Port is clearly defined.

"The future port will be smarter and greener," Han added.

According to Han, the construction of the COSCO Shipping Piraeus Port park project was officially launched in April. Once completed, it will become a modern center integrating sports, leisure, and social activities.

renqi@chinadaily.com.cn