By A. Tsimplakis
[email protected]
A looming cooperation between Cosco and the Danish logistics group Trans-IT was reported this week, with the Chinese multinational eyeing a transformation of the port of Piraeus into a major distribution hub for cargoes destined for third countries in the EU.
The initiative would exploit the VAT-free regime enjoyed in the port’s free trade zone.
Cosco assumed the management of the port of Piraeus after purchasing a majority stake in August 2016.
Its cooperation with Trans-IT began last year with the shipment of spare parts for vessel around the world, and with the hub being Piraeus. Expanded cooperation has now extended to transit cargo, which arrives from overseas but with a final destination in another EU state.
