Bloomberg News

Cosco Pacific’s Wang Says Greek Terminal Has Very Good Prospects

May 17, 2012

Wang Xingu, vice chairman and managing director of Cosco Pacific Ltd. (1199), comments on the outlook for the company’s container terminal in Piraeus, Greece amid speculation the country may leave the euro area. He spoke to reporters today in Hong Kong.

The Piraeus facility boosted volumes 154 percent in the first four months of the year, and Cosco Pacific is pushing ahead with expansion plans.

“No matter whether Greece pulls out of the euro zone or not, it will not have a big impact on our terminal. We have very good efficiency in handling cargo and the whole company has solid fundamentals. Also, only a small proportion of containers handled at the Piraeus facility are for the Greek market.

“Our terminal has a perfect location and there has been no strike there, which helps us provide good and efficient services to customers. The prospects for the terminal are very good.”

To contact the reporter on this story: Jasmine Wang in Hong Kong at jwang513@bloomberg.net

To contact the editor responsible for this story: Neil Denslow at ndenslow@bloomberg.net.


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