Greece to Develop Major US-Backed Shipping Hub to Compete with Cosco

Elefsina, Greece – Greece will establish a significant new shipping hub with support from the United States, as announced by the country’s development minister on Wednesday.

The initiative aims to strengthen Greece’s shipping industry and attract investment, particularly in light of competition from Chinese shipping giant Cosco.

The new facility will be located in the Elefsina industrial region, which is strategically positioned to facilitate trade and logistics. The move is part of Greece’s broader strategy to enhance its role in maritime transport and logistics in the Mediterranean.

“This shipping hub represents a turning point for our economy, and it underscores the commitment of the United States to support our efforts,” the development minister said during a press conference.

As the global shipping industry continues to evolve, Greece aims to provide services that appeal to a variety of shipping sectors, increasing its competitiveness in the region.

Recent developments, including the rise of global shipping contractors and changing trade routes, have prompted Greece to reassess its maritime strategies. The collaboration with the U.S. is seen as a vital step in this direction.

Once completed, the hub is expected to create numerous jobs and attract international shipping companies looking for robust infrastructure and opportunities in Europe.