The first two trains carrying Chinese cargo containers, launched by China COSCO Shipping Group, arrived in the Hungarian capital, the Economic and Commercial Counselor’s Office of the Chinese Embassy in Hungary said Tuesday. The shipments arrived here on Jan. 29 and Feb. 5, respectively, from the port of Piraeus, Greece, marking the official opening of the China-Europe land-sea fast intermodal transport route…Full Article: Feb 2017

Key Point

  • The shipment’s sea route runs from China’s Port of Ningbo (near Shanghai) to Greece’s Port of Piraeus (near Athens), while its land route (railway) runs from Athens to Budapest. The route takes a total of 26 days from Ningbo to Budapest.

ChinaAg Comments

  • In January 2017, COSCO Shipping Ports increased its stake in the Port of Qingdao, Shandong Province, to 18.41%.
  • In May 2016, COSCO Pacific, a subsidiary of China COSCO Shipping Corp, signed an agreement to purchase 35% of the terminal from ECT Participations BV, a subsidiary of CK Hutchison Holdings. Euromax Terminal Rotterdam is an automatic container terminal that has an annual capacity of 3.2 million twenty-foot equivalent units (TEUS). In 2015, the terminal processed 2.28 million TEUs.
  • In April 2016, China Cosco Holding signed an agreement to acquire a 67% stake in the Port of Piraeus (Athens), Greece’s largest seaport and one of the largest in the Mediterranean Sea.
  • In January 2016, Shanghai imported China’s first shipment (12 MTs) of Hungarian (frozen) beef.
  • In October 2015, China and Hungary signed a beef trade agreement.
  • In June 2015, China and Hungary signed a Memorandum of Understanding (MOU) within the Silk Road Belt and 21st-Century Maritime Silk Road initiatives. Hungary was the first EU country to join China’s Silk Road network.

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