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Sold to China: Container traffic in the Port of Piraeus

Author

Listed:
  • Pamina Koenig
  • Sandra Poncet
  • Mathieu Sanch‐Maritan
  • Claude Duvallet
  • Yoann Pigné

Abstract

This article analyzes the effects of the acquisition of the Port of Piraeus by the Chinese shipping operator COSCO in July 2016 on the organization of container traffic in Europe. Using real‐time container ship positions provided by vessel tracking systems between 2015 and 2019, we study the impact of the privatization of the Greek port on its attractiveness and on that of competing ports for the ships of the various operators, and more particularly of COSCO. Difference‐in‐difference estimates suggest that the number of container ship calls to the Port of Piraeus has increased following its privatization, but that this increase in attractiveness corresponds mainly to vessels operated by COSCO with a capacity of more than 3000 twenty‐foot equivalent units, and in particular to the largest of them. We do not identify any crowding out effect between operators in Piraeus: the use of Piraeus by the vessels of other operators remains relatively unchanged. The privatization of Piraeus seems to have imposed the Greek port as COSCO's transhipment hub for the European market without this being to the detriment of ports in any other particular European area.

Suggested Citation

  • Pamina Koenig & Sandra Poncet & Mathieu Sanch‐Maritan & Claude Duvallet & Yoann Pigné, 2024. "Sold to China: Container traffic in the Port of Piraeus," Review of International Economics, Wiley Blackwell, vol. 32(2), pages 510-544, May.
    • Handle: RePEc:bla:reviec:v:32:y:2024:i:2:p:510-544
    DOI: 10.1111/roie.12675
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    Cited by:

    1. Chowdhry, Sonali & Heiland, Inga & Mahlkow, Hendrik, 2026. "Quantitative trade with ships," Kiel Working Papers 2314, Kiel Institute for the World Economy.
    2. Kalkschmied, Katja & Stricker, Paul, 2026. "Critical infrastructure, critical trade-offs: The growth effects of Chinese investments in European ports," Transportation Research Part A: Policy and Practice, Elsevier, vol. 203(C).
    3. Alexi Thompson & James J. Jozefowicz, 2025. "Greek imports from china: monopoly power of the piraeus port deal," International Economics and Economic Policy, Springer, vol. 22(1), pages 1-18, February.
    4. Réka Juhász & Dávid Krisztián Nagy & Claudia Steinwender & Woan Foong Wong, 2026. "Ports, technology and inter-city trade: the economics and geopolitics of evolving maritime transport networks," CEP Discussion Papers dp2200, Centre for Economic Performance, LSE.
    5. Ducruet, César & Juhász, Réka & Nagy, Dávid Krisztián & Steinwender, Claudia, 2024. "All aboard: The effects of port development," Journal of International Economics, Elsevier, vol. 151(C).
    6. Peter H. Egger & Jie Li & Miaojie Yu, 2024. "Introduction to the special issue “China and the global economy”," Review of International Economics, Wiley Blackwell, vol. 32(2), pages 325-327, May.

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    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts

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