Cosco Pacific is considering new investments in Greece's ports and logistics sector, to support further expansion of its operations at the Port of Piraeus.

The port operator said its Piraeus Container Terminal operations recorded stronger growth in box throughput than its Chinese terminals, and last year (2011) the Greek operation turned in a profit of €4.7 million.

Growth has continued this year; in the first five months of 2012, Cosco's container operations at Piraeus handled 874,000 teu, a staggering 130% higher than the same period of the year before.

The company says it is confident in Piraeus' future development, where it has broken historic records in handling containers. Its plan is to position Piraeus as the top transhipment hub in the Mediterranean and Europe; as part of this, it is expanding Pier III to enable it to handle 18,000 teu ships and up to 3.7m teu a year.

Meanwhile, plans for further investment at the port are the subject of a feasibility study. This new expansion could see Cosco take control of Pier I container terminal and also expand its interests to cruise, coastal property and port management.

Additionally, a planned logistics centre about 30 kms from Piraeus is of interest for potential investment, said the company.

FL