Piraeus Port Breaks Container Traffic Record, Up by 6.4% in 2017

Photo Source: Municipality of Piraeus

The port of Piraeus has broken its record for container traffic in 2017, marking a 6.4 percent increase at 3,691 million TEU in 2017 compared to 3,471 TEU in 2016, Cosco Shipping Ports said this week.

In its announcement, Cosco said piers II and III operated by Piraeus Container Terminal (PCT), a subsidiary, had reached 3,691 million TEU last year.

The port’s Chinese managers are aiming after the completion of expansion works for container traffic to exceed 7 million annually and for Piraeus to evolve into one of the world’s 30 largest container ports.

Cosco’s goal for 2019 is set at 5 million containers.

In the meantime, a total of 87.31 million TEU were handled at Cosco’s terminals in 2017, from 77.52 million TEU in 2016, marking a 12.6 percent increase. According to Drewry Maritime Research, Cosco is the fifth largest operator in the world by equity TEU throughput.

Piraeus port, meanwhile, is ranked 44th among 100 of the world’s largest container ports by Lloyd’s List.