China’s embassy in Athens has criticised United States ambassador Kimberly Guilfoyle after she suggested that Greece might one day sell the Chinese-run Port of Piraeus, prompting renewed attention to the port’s ownership and existing concession.
In a statement on 19 November, the embassy said Guilfoyle’s comments constituted “malicious attacks on normal Sino-Greek commercial cooperation” and “serious interference in Greece’s internal affairs”.
The statement argued that Chinese investment had supported Piraeus during Greece’s debt crisis, contributing to what the embassy described as “tens of thousands of jobs”. It also said the port “belongs to the Greek people” and “must not become a victim of geopolitical confrontation”, accusing the United States of encouraging Greece to break contractual obligations.
Guilfoyle’s remarks originated from an interview broadcast on ANT1 on 13 November. According to Greek media that transcribed the programme, she called it “unfortunate” that Piraeus came under COSCO’s control during the financial crisis, said there were “ways around” the current situation, and added that “perhaps one day [Piraeus] could be for sale”. She also noted that Greece could become an energy hub, framing the port issue within wider supply-chain dynamics.
The Greek government has indicated that the COSCO concession is not being reconsidered. Foreign Ministry spokesperson Lana Zochiou said 67% of the port had been transferred to Chinese interests when COSCO was the sole bidder and reiterated that “Greece respects the agreements that have been concluded in the past”. She added that new investment in other ports remained possible but was separate from existing arrangements at Piraeus.
COSCO first entered Piraeus in 2008 through a 35-year concession for two container terminals. It later acquired 51% of Piraeus Port Authority in 2016 for about €280.5 million, alongside investment commitments, and its stake increased to 67% in 2021 following an amendment to the concession. Piraeus Port Authority reported about 5.1 million TEU of container throughput in 2023.
COSCO is a Chinese state-owned shipping and logistics group engaged in container and bulk shipping, port investment and terminal operations. It manages a global fleet and terminal network and operates under China’s central state-ownership framework.
Piraeus Port Authority is the Greek corporate entity responsible for managing and developing the Port of Piraeus. It oversees commercial port operations, including cargo, passenger and logistics activities, and functions under Greek corporate and regulatory oversight.
