Cosco Sends Containers to Slovenia Due to Greek Railway Strike

Piraeus PortCosco has decided to transfer its containers to the port of Koper in Slovenia from Piraeus in order to deal with the Greek railway strikes. Since the tariffs for small feeder ships are currently at very low levels, the Chinese company will be able to bypass the central Greek railway axis without major losses in competitiveness.

This alternative route is part of a plan created by Cosco’s subsidiary in Greece PCT SA, in order to tackle any threats against its smooth operation, as part of the business continuity planning, which has been developed and is currently being implemented.

Meanwhile, the Greek railway employees are continuing their efforts to stop the privatization of TRAINOSE and the imminent transfer of the railway company to the new superfund. The employees have organized a strike today, July 12, while they are expected to announce their plans for future actions.

However, the only company that is interested in acquiring TRAINOSE through HRADF, the Italian railway, appear frustrated because of the fact that wage increases have been reportedly approved for train drivers. The company had not taken the extra costs into account.

Regarding the Greek railway company, TRAINOSE, the freight charges from Piraeus are one of its main sources of income when it comes to non-passenger activity. The availability of alternatives such as the port of Koper in Slovenia, as well as the competing railway companies will significantly reduce the Greek company’s prospect for development.