Greece’s shipping industry is essential to global maritime trade. The Greek-controlled fleet is in first place internationally, representing about 20% of the global force in dwt (deadweight tonnage) terms. That includes a 30% share of tankers and 22% of bulk carriers, and 15.45% of the world’s chemical and products tankers. Approximately half of the total European Union fleet capacity is Greek-owned.
Piraeus, Athens' main port, is the fastest growing port in the world. Piraeus "will be the largest port in the Mediterranean by 2019, displacing Hamburg from third place in Europe”, according to the German newspaper, Die Zeit. The shipment of goods has more than tripled after the China Ocean Shipping (Group) Company arrived in Piraeus. In 2017, there were 3.7 million containers, but in 2018 that number reached 5 million. With the recent expansion of pier III, Piraeus can now accommodate two giga-carriers of 20.000 TEUs (cargo capacity units) at the same time.
The continuing expansion and upgrade of Piraeus port has also driven a surge in activity among shipping insurance and finance, charterers and traders. Recent growth has upgraded the whole area surrounding Piraeus port, with new hotels, congress venues and commercial stores at cruise terminals.
Piraeus port plays a significant role in rail freight transport as well. Every week, between 16 and 18 freight trains depart from Piraeus for central and western Europe. With the interconnection of China and Europe’s sea and land routes, Piraeus port will become one of Europe’s largest freight-forwarding centres and one of the region’s largest centres for logistics services.