Greek shipping caught in the crossfire of U.S.-China trade tensions

A fresh scuffle in the U.S.–China trade tensions is taking place at sea — and Greece could feel the splash first. 

After Washington announced higher port fees for Chinese-built and Chinese-owned vessels, Beijing signaled payback: special surcharges and even limits on port access. Change the costs, change the routes — and Europe's biggest maritime crossroads, Greece, is suddenly in the middle of the fight.

At Piraeus — the COSCO-run gateway that's become a European hub — every crane lift feeds paychecks and pantries. Tweak the rules oceans away and the consequences can roll down the quay. 

"All this uncertainty — the disruption of a balance that existed — is likely to hit jobs first, and with them our income and our families' daily lives," warns Giorgos Gogos, head of the Piraeus Dockworkers' Union.

The shockwaves are already building. 

"In the last two months we've seen a downturn in import trade and in transit cargo — a big part of Piraeus' work. It's early, but the trend is worrying," Gogos adds. 

Fewer calls mean thinner shifts — and thinner wallets — in the port city that lives off containers, and the worry doesn't stop at the waterfront. 

Big impact

Greece controls nearly one in five merchant ships on the planet. Hike port fees or force detours and the bill for shipowners rises fast — a bill paid by importers, then shoppers. 

"For every ship that operates in a competitive market — so for all Greek-owned ships — the impact will be significant," says Ioannis Theotokas, Professor of Maritime Studies at the University of Piraeus. 

"China announced it will impose tariffs on ships connected to American interests or companies listed on U.S. stock exchanges. We have quite a few Greek companies listed in New York. Those ships will be affected."

Fewer "acceptable" ships and more red tape usually mean one thing: pricier transport. 

"The immediate risk is sharply higher freight rates," notes George Xiradakis, President of the Association of Banking and Financial Executives of Hellenic Shipping. 

"If you restrict the supply of acceptable ships while demand holds, transport prices jump — and that feeds through to industrial costs and what consumers pay."

For now, the damage at Europe's ports looks contained. But the longer — and broader — the measures, the messier the rerouting. Days get added, costs creep up, and transshipment patterns shift. 

As Theotokas puts it, "Pandora's box has been opened… we are moving into a protectionist regime," and Greek shipping will be tested as global competition hardens.