By Antonis Tsimplakis

The port of Piraeus is maintaining a wait-and-see approach as the shipping market continues to anticipate the full resumption of containership traffic through the Suez Canal – a development that is now clearly reflected in the latest figures.

According to data from COSCO Shipping Ports, in January 2026, container traffic at piers II and III of the Container Terminal at the port of Piraeus recorded a 14.7% drop on a monthly basis.

In particular, 301.4 thousand containers (TEU) were handled in January 2026 compared to 353.5 thousand in the corresponding month of 2025, a development that reflects the reduced flow of cargo from Asia to Europe, but also the continued caution of shipping lines.

Market players pointed out that the delay in the normalization of international routes continues to keep part of the fleet outside Suez, with direct impacts on European port hubs.

For Piraeus, which in previous years recorded consecutive historical highs, the latest figures sound the alarm, underlining how closely its course is linked to global maritime trade flows.

38 ports

The market is now turning its attention to the coming weeks, expecting signs of a return to normality – along with the recovery of volumes.

According to the Chinese group’s data, in January 2026, the total traffic in the 38 ports of its portfolio amounted to 10.4 million TEUs (a unit of measurement corresponding to a 20-foot container), compared to 9.4 million TEUs in the corresponding month of 2025, recording an increase of 10.5% on an annual basis.

China’s activities also performed positively, with terminals in the Bohai Rim and Pearl River Delta regions recording increases of 8.4% and 11.9% respectively, reflecting the gradual recovery of domestic demand and export flows.

The group’s international terminals performed even more dynamically, with throughput increasing by 19.9% year-on-year, confirming the strategic importance of COSCO Shipping Ports’ investments outside China and its enhanced role in global logistics.

New terminal inaugurated

Meanwhile, with COSCO Shipping Ports’ participation in the consortium, the new Red Sea Container Terminals container terminal at Sokhna Port was inaugurated on January 15, 2026, marking a significant step in strengthening Egypt’s port capacity and regional trade connectivity.

The project was implemented by a consortium that also includes CMA CGM, Hutchison Ports and CMA Terminals.

The new terminal is located in Ain Sokhna, in a strategic location near the Suez Canal, and is designed to function as a key transit hub connecting Asia, Africa and Europe.

RSCT has a basin depth of up to 19 meters, allowing it to handle ships of all sizes, while the first phase of the project includes a 1,200-meter-long quay, with a depth of 18 meters and an initial annual capacity of 1.7 million TEUs.

The terminal is equipped with remotely operated ship-to-shore cranes and automated RTGs, with operations largely relying on fully electric equipment, enhancing efficiency and reducing emissions. Mr. Fang Qiu, Chinese ambassador to Athens, sent a four-point maritime message to Greek shipowners, who transport over 20% of China’s cargo, in a New Year event organized by the China Classification Society (CCS), the XRTC and the Huayang Maritime Center.

Mr. Fang Qiu stated that China and Greece are major maritime countries. In other words, he added, there are conditions for deepening their cooperation in the maritime sector.

The importance of Piraeus’ port

China-Greece cooperation on the Port of Piraeus is developing into a model of international partnership. Piraeus is emerging as the largest container port in the Mediterranean and the fourth largest in Europe, creating more than 12,000 indirect jobs in Greece and substantially boosting national GDP.

The “China-Europe Land-Sea Express Transport Corridor,” with Piraeus as its hub, has reduced logistics time between Asia and Europe by 7-11 days, constituting a “third trade corridor” connecting the Maritime and Land Silk Roads and extending to Central and Eastern Europe.