ATHENS (dpa-AFX) - The Chinese transport giant Cosco, which has leased around two-thirds of the Greek port of Piraeus since 2016, remains a thorn in the side of the United States--and Athens itself is also grappling with the strong Chinese presence. Now, Athens and Washington are seeking to restore balance. The Greek government is planning a law that would grant a Greek-American company permission to expand the port of Elefsina, located about 10 kilometers west of Piraeus. This was announced by Minister for Economic Development, Takis Theodorikakos, following a meeting with US Ambassador Kimberly Guilfoyle.

Cosco is well-known in Germany, particularly for its 24.9 percent stake in the Tollerort terminal at the Port of Hamburg, which is majority-owned by port logistics provider HHLA.

China Holds the Advantage

The American initiative marks another step in recent US efforts to establish a US-European foothold in Greece. For years, China has been supplying large parts of Eastern Europe with its products via the port of Piraeus. Piraeus has since become one of Europe's largest container ports, serving as a logistics hub for China and as a lever for Beijing's growing influence in Europe.

Moving forward, the Greek-American business group Onex Shipyards & Technologies is expected to be authorized by law to operate in cargo handling, energy, and port logistics in Greece. Until now, the group had been active only in shipbuilding.

Geopolitically Strategic Zone

During the meeting, US Ambassador Guilfoyle highlighted the priorities of President Donald Trump's administration in the areas of energy and security. Greece, she said, is a "strong ally," and Washington expects a significant expansion in the use of the port of Elefsina as a logistics hub in a geopolitically crucial zone.

Theodorikakos emphasized that deepening strategic cooperation with the United States would not only make Greece an energy hub, but also strengthen the productive transformation of the Greek economy. Just two weeks ago, Greece and the US announced the expansion of liquefied natural gas transport to Eastern Europe at an energy summit in Athens./axa/DP/jha