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Greece welcomes Chinese companies to shipping expo

CHINESE shipyards and other related companies are most welcome to participate in the Posidonia International Shipping Exhibition, one of the world's biggest maritime events to be held in Greece next year.

Chairman of the Posidonia Exhibition, Theodore N Vokos, said in Shanghai yesterday that now was best time for Chinese shipbuilders to showcase their competitiveness. He also encouraged customers to place shipping orders during or prior to the event because the global economic slowdown had kept prices very low.

"The present prices are up to 30 percent less expensive than that in 2008 when the crisis started," Vokos said. "With major powerhouses like the United States looking upon trade to boost its economy, thus shipping will come back to prosperity at a time around 2015. So it's best time to order right now."

Vokos said many young people in Greece were joining the shipping industry because they believed it was one of the two sectors that could stabilize Greece's economy and may expand in the future. The other is tourism.
China is building a closer cooperation with Greece in shipping, and Shanghai is a key participant as the city aims to become a global shipping center by 2020.

Last year, Cosco Pacific, a terminal-operating subsidiary under Cosco Group, took over operations at Greece's Port of Piraeus for 35 years, the biggest Greek container port, under a US$4.2 billion contract.

China is now one of the major ship-building bases for Greece, which is home to more than 1,000 shipping management firms that organize 12 percent of the world's fleets and transport 17 percent of all oil shipments.



 

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