Mary Wilson
Well-known member
September 13, 2021 3:49 PM
John Xie
A powerhouse in global trade, China has more shipping ports at home than any other country. Key investments add about another 100 ports in at least 60 nations. And Beijing is looking for more.
Earlier this month, operations at Israel’s port of Haifa, one of the largest maritime transport hubs in Mediterranean, were handed over to China's state-run Shanghai International Port Group to run for the next 25 years.
Another gigantic Chinese shipping company, COSCO Shipping, is poised to expand its footprint in Europe by taking a stake in the port of Hamburg. Negotiations have been reportedly going well, and a deal is expected soon.
If COSCO succeeds, it would be the company’s eighth port investment in Europe.
The state-owned company's previous investment involves the acquisition of Greece’s Port of Piraeus, one of the world's most important shipping centers located at the crossroads of Europe, Asia, and Africa. COSCO bought 51% of the port’s operating company in 2016. After a Greek court gave the go-ahead last month, COSCO now can raise its stake in Piraeus to 67%.
The Chinese government does not have an official platform summarizing the overall data for China’s overseas port projects, but publicly available information shows that Beijing now has a foothold in at least 100 ports in 63 countries.
... In a recent opinion piece published by the Daily Mail, former British Defense and International Trade Secretary Dr Liam Fox and former U.S. National Security Adviser Robert McFarlane noted that China now owns 96 ports around the world. Some of these are at key locations for maritime trade, "giving Beijing strategic dominance without having to deploy a single soldier, ship or weapon."
https://www.voanews.com/a/6224958.html
John Xie
A powerhouse in global trade, China has more shipping ports at home than any other country. Key investments add about another 100 ports in at least 60 nations. And Beijing is looking for more.
Earlier this month, operations at Israel’s port of Haifa, one of the largest maritime transport hubs in Mediterranean, were handed over to China's state-run Shanghai International Port Group to run for the next 25 years.
Another gigantic Chinese shipping company, COSCO Shipping, is poised to expand its footprint in Europe by taking a stake in the port of Hamburg. Negotiations have been reportedly going well, and a deal is expected soon.
If COSCO succeeds, it would be the company’s eighth port investment in Europe.
The state-owned company's previous investment involves the acquisition of Greece’s Port of Piraeus, one of the world's most important shipping centers located at the crossroads of Europe, Asia, and Africa. COSCO bought 51% of the port’s operating company in 2016. After a Greek court gave the go-ahead last month, COSCO now can raise its stake in Piraeus to 67%.
The Chinese government does not have an official platform summarizing the overall data for China’s overseas port projects, but publicly available information shows that Beijing now has a foothold in at least 100 ports in 63 countries.
... In a recent opinion piece published by the Daily Mail, former British Defense and International Trade Secretary Dr Liam Fox and former U.S. National Security Adviser Robert McFarlane noted that China now owns 96 ports around the world. Some of these are at key locations for maritime trade, "giving Beijing strategic dominance without having to deploy a single soldier, ship or weapon."
https://www.voanews.com/a/6224958.html