Athens' Piraeus port U-turn won't hurt China investment: analysts

Piraeus, Greece

THE shipping containers emblazoned with the Cosco logo on the quayside at Greece's biggest port Piraeus are a sign that China has invested heavily here.

Even though Greece's new left-wing government set alarm bells ringing in Beijing when it halted the privatisation of the port last week, analysts say Athens is merely posturing.

China will still be a "privileged partner for Greece", they say.

Cosco, through its Piraeus Container Terminal arm, manages the two main container terminals at the port - one of Europe's busiest - under a 35-year concession signed in 2008.

In a logical move to extend its control, the …